A prominent newspaper editor has raised a major alarm about the financial health of Ghana's cocoa board. Managing Editor Kwesi Pratt Jr. stated that COCOBOD is essentially bankrupt, with total liabilities far surpassing its assets. He attributed this dire situation to problems left by the previous administration, creating a huge burden for the current management led by CEO Dr. Randy Abbey.
Pratt's comments follow disclosures from Abbey about severe mismanagement, including millions in cocoa road contracts awarded without proper approval from the Public Procurement Authority. The journalist said these revelations confirm his earlier doubts about the extreme difficulty of running the board now. He called for people to rally together to find solutions to these deep and complex problems.
The financial scale was highlighted by President John Dramani Mahama in a recent national address. He noted COCOBOD owes over thirty-two billion cedis, with nearly ten billion of that debt due for payment soon. Pratt described the entity as a mess so huge that someone must carry the burden for the country.
Pratt's comments follow disclosures from Abbey about severe mismanagement, including millions in cocoa road contracts awarded without proper approval from the Public Procurement Authority. The journalist said these revelations confirm his earlier doubts about the extreme difficulty of running the board now. He called for people to rally together to find solutions to these deep and complex problems.
The financial scale was highlighted by President John Dramani Mahama in a recent national address. He noted COCOBOD owes over thirty-two billion cedis, with nearly ten billion of that debt due for payment soon. Pratt described the entity as a mess so huge that someone must carry the burden for the country.
