50% of outstanding debt owed to food suppliers to be paid Wednesday – Agric Minister

The Minister of Food and Agriculture, Bryan Acheampong, has announced that 50% of the outstanding payments owed to food suppliers will be disbursed by the end of Wednesday, July 19, 2023.

He disclosed this when he appeared before Parliament to respond to questions over the debt owed to suppliers, Tuesday, July 18, 2023.

He told the MPs that a sum of 100 million, representing 50% of the total debt of 203 million, was already transferred to the accounts of the food suppliers on Monday, July 17, 2023.

The remaining amount is expected to be credited to their accounts by Wednesday, he added.

He said, “Since 2017, Buffer Stock has done great business with the suppliers to the tune of ¢2.7 billion. In 2017, was ¢81.1 million, in 2018, ¢296 million, in 2019, ¢431 million, in 2020 ¢467million, 2021 ¢692 million, in 2022 ¢726 million. Buffer stock has made payments since it started in 2017, 2018,2019, 2020 and 2021 in full. Mr Speaker in 2022, of the ¢726, 617,881, ¢500 million have been paid to the suppliers. So we owe the suppliers a little more of ¢203 million.”

“Last week, we received ¢100million which is 50% of what is due to the suppliers’ and we have supplied the same to the Buffer stock. We are hoping that by midweek this week that 50% will be sent to suppliers. I have also assured you that by the 17th of August, the remaining 50% will be paid,” he added.

Meanwhile, the Second Deputy Majority Whip has urged national food suppliers not to be swayed by political pressures into protesting the debt owed to them at the National Food Buffer Stock Company.

Speaking on the floor of parliament, Habib Iddrisu stated that the work of the suppliers was critical and that they should not allow their feelings to be manipulated for political gain.