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Economic news for Wednesday, February 10, 2021
Source: Goldstreet Company
2021-02-10
Fiifi Boafo, Public Affairs Manager, COCOBOD
Ghana Cocobod has refuted claims that some licensing companies have not been paid since November 2020 for the supply of cocoa beans.
According to the cocoa industry regulator, even though there has been a delay in payments, it will withdraw some $ 190 million from the Bank of Ghana to settle the debt by the end of this week.
Responding to questions from the series “ Meet the Press ” organized by the Ministry of Information, head of public affairs at Cocobod, Fiifi Boafo noted that despite the delay in payments, it is very critical to promote local consumption of chocolate to revive the economy.
“If anyone tells you that we haven’t paid farmers or licensed buying companies since November 2020, that’s not true as we have withdrawn over $ 1.0 million from the Bank of Ghana to install farmers and LBCs. ”
He added: “We admit there are challenges and small payment delays, but we expect this to be resolved this week because we will be withdrawing the last batch of funds to pay off the remaining debt.”
“As far as we face these challenges, it does not prevent us from consuming our local products to promote the economy,” he said.
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