Mahama left GHS 19.6b debt at Cocobod

The John Mahama administration left behind a GHS19.6 billion debt in the cocoa sector, Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has said.

According to him, in the cocoa road project alone, the previous administration left behind a debt of GHS 3.5 billion.

Mr Aidoo told Chef Jerry Forson, host of Ghana Yensom on Accra 100.5FM on Thursday, November 2 that: “The total debt we inherited from the NDC administration is GHS 19.6billion. In the cocoa road alone, they left behind GHS 3.5billion debts for us to pay.”

At an earlier press conference organised on Wednesday, November 1, Mr Aidoo accused the Mahama administration of withdrawing US$400m out of the $1.8 billon cocoa syndicated loan for the 2016/2017 crop season, after losing the 7 December 2016 elections.

He said: “The NDC government secured an amount of US$1.8 billion for the 2016/2017 cocoa purchases, which were projected at 850,000 metric tonnes.

“As of January 2017, the US$1.8 billion had been fully drawn and utilised when only 587,125 metric tonnes of cocoa had been purchased. The mystery surrounding the exhaustion of the US$1.8 billion is being investigated and the full facts will be made known to Ghanaians in due course. Peculiar to the loan utilisation is the last drawdown of US$400.0 million which was effected on 20th December, 2016 at the time the NDC had woefully lost the December 2016 elections.

“It is still surprising how the full drawdown of US$400.00 million (GH¢1.69 billion) was fully expended between 20th December, 2016 and 6th January, 2017 when the NPP government took over after 7th January, 2017. Audit findings into the utilisation of the amount will be made known to Ghanaians at the appropriate time when the full facts are unravelled.

“Despite this inability to account properly for the loan, the NPP government was saddled with a whopping debt of GHC19.6 billion after taking over in January 2017.”

Source: Ghana/ClassFMonline.com/91.3FM

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