Nine cocoa seed-buying companies have paid a total of GH¢101 million out of GH¢137 million debt owed the
The nine companies including
One other company,
This came to light when the management of COCOBOD appeared before the Public Accounts Committee (PAC) of
The Board, he said had initiated legal action against some of the defaulting companies including
Attached to the legal action,
He indicated that the board had also engaged the vibrant companies on a payment plan which had enabled them settle the debt while operating profitably.
"We have taken the needed steps to recover all our seed funds which had been in arrears for a number of cocoa seasons. For those active companies, we have agreed on a payment plan and taken legal action against some of the defaulters. We are also actively pursuing guarantors of the seeds buying companies as well,"
By October this year, he said COCOBOD would launch a cocoa farmer's pension scheme to cover more than 793,000 farmers that would include contributions from COCOBOD to ensure the welfare of farmers across the country.
He stated that COCOBOD had ensured the retirement of GH¢276,830 impress, adding that as a control measure, staff had been issued with notices of unretired impress to ensure timely retirement of impress.
Staff who fail to adhere to the notices, he said were surcharged to deter others from doing same.
"A total amount of
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