Purchase cocoa with Akuafo cheque

On Tuesday, the executive of the Licensed Cocoa Buyers Association (LICOBAG) expressed concern about the extent to which Licensed Buying Companies (LBC) were purchasing cocoa with cash instead of the Akuafo cheque, and asked them to adhere strictly to the regulation of paying with the cheque.

A statement signed by Nana Amo Adade Boamah, President of LICOBAG, stated, "They had noted a cheque was used. Some field staff issued the name of one person, invariably the Purchasing Clerk himself, on behalf of farmers. He then cashed the cheque and shared the money among the beneficiary farmers. The Association wishes to draw the attention of the management of all LBCs to the fact that both modes of payment mentioned above are in contravention of government's laid down the method of cocoa purchases. Apart from inculcating in the farmer the saving habit, it also provides a good source of record keeping, which goes to help at any time to determine what each farmer has sold to the government."

They also pointed out that it was for very good reasons that the Akuafo cheque system was introduced as a means of paying farmers for their cocoa. "Such a record may become very essential for the farmer in his direct dealings with the COCOBOD, other appropriate agencies and even the banks." This statement advised all farmers to insist on being paid with the Akuafo cheque issued in the individual farmer's own name.

The management of every LBC was asked by the association to direct all their operational staff to assist farmers in this regard by strictly adhering to lay down regulations of paying for any cocoa purchased by them through the Akuafo cheque.The Association was aware of the occasional problems some farmers encountered when cashing their cheques and was in discussion with the banks to ensure easy and quick encashment of cheques by the farmers. It cautioned all field staff of LBCs to desist from issuing the cheques when they were not certain.They had expected that their cash transfer had been lodged in their respective accounts.

On Tuesday, the executive of the Licensed Cocoa Buyers Association (LICOBAG) expressed concern about the extent to which Licensed Buying Companies (LBC) were purchasing cocoa with cash instead of the Akuafo cheque, and asked them to adhere strictly to the regulation of paying with the cheque.

A statement signed by Nana Amo Adade Boamah, President of LICOBAG, stated, "They had noted a cheque was used. Some field staff issued the name of one person, invariably the Purchasing Clerk himself, on behalf of farmers. He then cashed the cheque and shared the money among the beneficiary farmers. The Association wishes to draw the attention of the management of all LBCs to the fact that both modes of payment mentioned above are in contravention of government's laid down the method of cocoa purchases. Apart from inculcating in the farmer the saving habit, it also provides a good source of record keeping, which goes to help at any time to determine what each farmer has sold to the government."

They also pointed out that it was for very good reasons that the Akuafo cheque system was introduced as a means of paying farmers for their cocoa. "Such a record may become very essential for the farmer in his direct dealings with the COCOBOD, other appropriate agencies and even the banks." This statement advised all farmers to insist on being paid with the Akuafo cheque issued in the individual farmer's own name.

The management of every LBC was asked by the association to direct all their operational staff to assist farmers in this regard by strictly adhering to lay down regulations of paying for any cocoa purchased by them through the Akuafo cheque.The Association was aware of the occasional problems some farmers encountered when cashing their cheques and was in discussion with the banks to ensure easy and quick encashment of cheques by the farmers. It cautioned all field staff of LBCs to desist from issuing the cheques when they were not certain.They had expected that their cash transfer had been lodged in their respective accounts.