COCOBOD CEO Randy Abbey reveals 200 containers of cocoa jute sacks and agrochemicals missing

The Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Dr. Ransford Annetey Abbey, has disclosed that approximately 200 containers of jute sacks and agrochemicals meant for cocoa operations are currently untraceable.

He revealed that the matter is under investigation by the National Investigations Bureau (NIB).

Speaking on TV3’s Hot Issues programme on Sunday, May 25, Dr. Abbey explained that despite documents indicating the containers should be at Ghana’s ports, their actual whereabouts remain unknown.

“We’re told that we are supposed to have about 200 containers of jute sacks and agrochemicals at the port. The National Investigations Bureau is investigating because we don’t know where these 200 containers are. But of course, once the bill of lading is presented to COCOBOD, there is a liability we must deal with,” he said.

Dr. Abbey also disclosed that COCOBOD owes agrochemical suppliers nearly $400 million, some of which relate to products never delivered to the organization’s stores. He described the situation as alarming and questioned why anyone would deliberately cause such financial loss to an institution that is already “bleeding.”

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Adding to the concerns, he cited instances of excessive procurement. “Despite having over 111,000 sacks in storage, COCOBOD still went ahead to purchase another 75,000 bales, costing over $45 million,” he said, questioning the rationale when cocoa production is declining.

This revelation adds to the growing concerns about COCOBOD’s financial health, which Dr. Abbey recently described as nearly insolvent, saddled with a GHC33 billion debt.

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