Dr. Cassiel Ato Forson, Ghana’s Finance Minister, has confirmed that his ministry will now oversee the Ghana Cocoa Board (COCOBOD), although he stressed that the responsibility for the board’s significant financial obligations remains with its Chief Executive Officer, Randy Abbey.

Speaking on Channel One TV on March 12, Forson clarified that while his ministry would provide supervisory oversight, it would not be responsible for COCOBOD’s substantial debts, which currently stand at GH¢32 billion. He pointed out that Abbey must manage the board’s finances and work toward repaying the debts, a burden left by the previous administration.

“I am their supervisor, but that doesn’t mean I should pay their debt,” Forson stated. “Randy Abbey must find the money and pay, and that is what, unfortunately, the former administration left for him.”

COCOBOD, established in 1947, plays a pivotal role in managing Ghana’s cocoa industry, including production, processing, and marketing, as well as setting fair prices for cocoa farmers. However, the board’s financial struggles have raised concerns over the future sustainability of the cocoa sector, a critical part of Ghana’s economy.

In addition to discussing COCOBOD’s challenges, Forson addressed rumors about a freeze on public sector employment, rejecting them as false and reiterating the government’s commitment to creating jobs and fostering economic recovery.

Source:TheDotNews