The Chief Executive of the Ghana Cocoa Board (COCOBOD), Dr. Ransford Abbey, has addressed mounting concerns within the cocoa sector, citing delays in payments to farmers as one of the key challenges currently confronting the industry.
Speaking at a press conference held at Cocoa House in Accra, Dr. Abbey explained that the payment delays are largely due to liquidity pressures, funding constraints and a downturn in global cocoa prices, which have affected the Board’s cash flow.
He acknowledged the strain the situation has placed on cocoa farmers, many of whom depend on timely payments for their livelihoods, and assured them that COCOBOD is taking concrete steps to resolve the difficulties.
Dr. Abbey appealed to farmers to remain patient as measures are being implemented to stabilise the sector and improve the financial position of the Board.
He also reaffirmed COCOBOD’s commitment to safeguarding the welfare of cocoa farmers and ensuring the long-term, sustainable development of Ghana’s cocoa industry.
Source: Classfmonline.com
COCOBOD chief addresses payment delays, assures farmers of stabilisation measures
