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Chief Executive Officer of COCOBOD, Dr Randy Abbey, has expressed serious concern over the underwhelming results of a $263 million loan secured for the rehabilitation of cocoa farms across Ghana.
Speaking at a meeting with cocoa farmers at Nkawie in the Ashanti Region, Dr Abbey revealed that while the loan was intended to cover the rehabilitation of 156,000 hectares of disease-stricken cocoa farms, only 40,000 hectares were completed by the time he assumed office.
“If we had successfully done this on 156,000 hectares, it would have contributed up to 200,000 tonnes to our production. We took all this money, and all we have to show is just 40,000 hectares completed,” he lamented.
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The rehabilitation programme was initiated in response to the alarming infestation of approximately 40% of cocoa farms by disease, prompting authorities to act swiftly to save Ghana’s cocoa sector. Despite the justifications and high expectations, an additional GHS700 million was pumped into the project — with little to show for it.
Dr Abbey noted that the situation has been referred to investigative agencies, citing accountability and the need for transparency.
“There are agencies responsible for investigating these things. I am saddened by what has happened because it was a golden opportunity to turn things around in the sector,” he said.
Determined to move forward, Dr Abbey disclosed plans by the current COCOBOD administration to rehabilitate an additional 21,000 hectares of cocoa farms. He reaffirmed his commitment to salvaging neglected farmlands, with the aim of expanding Ghana’s productive cocoa stock.
“We have left some in the bush, and that is what I am trying to go and work on… so we can add them to the productive stock of farms we have,” he explained.
Dr Abbey also revealed that upon assumption of office, COCOBOD had inherited road contracts worth GHS21 billion alongside existing debts of GHS4.4 billion, highlighting the fiscal burden currently facing the institution.
His remarks have sparked renewed calls for accountability and effective governance in managing key national resources such as cocoa — Ghana’s top export commodity.
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