GHANA’S COCOA SECTOR ON BRINK OF COLLAPSE, LICOBAG WARNS
The Licensed Cocoa Buyers Association of Ghana (LICOBAG) has raised a red flag over the cocoa industry’s dire situation, citing a perfect storm of funding woes, flawed sales strategies, and undue political meddling.
Speaking at a press conference, LICOBAG Executive Secretary Victus Dzah painted a grim picture, stating that Cocobod’s crippling funding crunch has left buyers unable to settle farmers, pushing the industry to the edge.
LICOBAG points fingers at Cocobod’s sales approach, saying it’s fixated on meeting targets rather than responding to market realities, resulting in a massive stockpile of unsold cocoa.
The association is demanding a fundamental overhaul of the funding model, immediate payment of debts to buyers, and tighter scrutiny of Cocobod’s trading activities.
The fallout is severe: farmers are going unpaid, purchasing clerks are facing arrest, and smuggling is on the rise. As the peak season gets underway, LICOBAG warns that the situation could spiral out of control without swift action.
The association is calling on the government to restore Cocobod’s autonomy and professionalism, saying it’s crucial to salvaging the industry.
Story by Charles Mensah Nyamedi.
