Business News of Thursday, 4 February 2021

Source: starrfm.com.gh

Government not short-changing licensed buying companies – Majority

Deputy Majority Leader Alexander Afenyo-Markin Deputy Majority Leader Alexander Afenyo-Markin

Majority lawmakers have accused their minority counterparts of peddling falsehood in the alleged failure of COCOBOD to release funds for the purchase of cocoa beans.

The MP for Buem Kofi Adams claims that COCOBOD has not paid for cocoa beans purchased despite the approval of some $1.3b for the purpose.

The House has been compelled to summon the COCOBOD boss Joseph Aidoo for questioning.

Deputy Majority Leader Alexander Afenyo-Markin refuting the claims told Starr News “they should tell us which LBC s alleging that COCOBOD has refused to pay invoices.

“He makes a general statement that the House should get COCOBOD to pay LBC’s. We are challenging that the Western North he cited, Buem he cited, he should let us know whcih LBC. He has not been able to do so, he has refused to give you a single LBC that is making an allegation against COCOBOD.”

He added “we submit that whatever that Mr Adams read on the House’s floor is factually inaccurate and we back it with facts. We cannot just get up and put out information that we have not validated or verified. In a situation we find ourselves, the international financial market is monitoring. Is it the case that COCOBOD has funds and is refusing to pay LBC’s because they also forward returns and state clearly what they have used the funds for.”

But the Buem MP Kofi Adams said government has been insensitive to the plight of cocoa farmers. He intimated “if you check the LBC’s that operate in my constituency you would know the reality on the ground. And it is not only an issue in my constituency or Oti region, it is an issue in every part of the country that we grow cocoa.”

“And the other side in their contribution, one of them said he himself also a cocoa farmer and he deals with four LBC’s. Only three have paid him, one has not paid him. So, it tells you that the problem is everywhere.”

He added “they have just refused to admit the fact that farmers are suffering and truly so farmers are suffering. So, if you have advanced some monies to them and farmers are concerned that they are not receiving those monies for the beans that they have sold to LBC’s. It is important that the regulator takes up his responsibility to regulate the system and ensure that farmers are not short-changed.