Ghana cocoa farmers struggle amid cash shortage - BBC report

A latest BBC report has highlighted the current state of Ghana's cocoa sector as cocoa farmers grapple with cash challenges.

The report said Ghana’s cocoa farmers are complaining that they’re broke as the cocoa board – to which they are obliged by law to sell their produce – is unable to pay them.

According to the farmers, they have been unfairly treated.

President of the Ghana National Cocoa Farmers Association, Anane Boateng, said his members have had to do all the work but the regulator is struggling to make profits.

COCOBOD has assured that processes to secure this year's Cocoa Syndicated Loan are in progress.

It explained that the arrangement was to use a refinancing arrangement to secure $400 million from international buyers for purchases at the beginning of the 2023/2024 season.

There has been some form of unrest in recent times after reports of the government’s inability to secure the yearly syndicated loan due to banks’ skepticism over the country’s debt levels.

In a press release on November 10, 2023, it said: “COCOBOD planned a two-prong financing for the 2023/2024 Crop Season in an effort to diversify its source of funding for the annual cocoa purchases. The strategy was, therefore, to use a refinancing arrangement with the international buyers to raise an amount of US$400 million for purchases at the beginning of the Season in September 2023.”

SSD

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Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.