[ad_1]
Kwesi Pratt has described the state of the Ghana Cocoa Board as frightening, saying revelations about its finances left him “very, very depressed” and deeply concerned about the broader economy.
Reacting to a recent media briefing by Randy Abbey, Pratt said the disclosures confirmed the scale of the problem confronting the institution.
“The mess is huge. It’s so so huge,” he stated, pointing to information showing that COCOBOD’s liabilities now exceed its total assets. “It’s a bankrupt company,” he added during a panel discussion on Metro TV monitored by MyNewsGh.
He said the briefing vindicated earlier concerns he had expressed following the appointment of the board’s chief executive.
“Yesterday I felt right vindicated,” Pratt said, recalling that he had openly questioned the burden the role would carry. “Somebody must work for Ghana, but the burden is heavy.”
Pratt highlighted a sharp decline in cocoa production, describing it as alarming. “Over the last three years or so, we’ve lost 50 percent of production. That’s massive,” he said, attributing the situation to the effects of galamsey and the swollen shoot disease.
He also raised concerns about reckless procurement practices, citing the importation and abandonment of cocoa sacks at the ports. “That’s clearly a case of causing financial loss,” he said, describing the situation as “really, really terrible.”
[ad_2]
