November 28, 2018
Ranking member of Finance, Ato Forson is raising red flags on what he said is the current governments misapplication of cocoa syndicated loans.

In an interview with the media in Parliament, Cassiel Ato Forson said government has misapplied the first tranche of $1.3 billion amounting to six hundred and fifty million Ghana Cedis which was supposed to be used to purchase cocoa by the licensed produce buying company (PBC).

He further added that government has rather chosen to deposit the money into secured investment of some banks instead of using it for its purpose.

“I have written to the Chairman of the Finance Committee in Parliament, to invite the leadership of Ghana Cocoa board to come and explain to the committee, why are they keeping those money at the banks  and taking interest  on it, instead of giving it to farmers buy cocoa”.

By: Kwaku Sakyi-Danso/