COCOBOD Set to Receive US$600m, As AfDB Commend Ghana’s Economic Performance

By Richard Adorsu-

NEW AFRICA BUSINESS NEWS (NABN), Accra, Ghana- African Development Bank (AfDB) has expressed profound satisfaction with the performance of Ghana’s economy.

According to the Bank, Ghana’s economic growth rate and the sharp drop in its inflation rate, and the performance of key sectors of the economy, were highly impressive.

Executive Directors of the AfDB came to the above conclusion after meeting with top officials of the Ghanaian Government over a period of four days in Accra.

The Executive Directors reportedly met with Ghana’s Vice President, Dr. Mahamudu Bawumia, Finance Minister, Ken Ofori-Atta, Food and Agriculture Minister, Dr. Owusu Afriyie Akoto, management of Ghana Cocoa Board (COCOBOD), private sector players, and non-governmental organizations.

Addressing the media after a closed-door meeting with the management of COCOBOD, the Dean of the Executive Directors of AfDB, Bright Okogu, said the processes leading to the drawdown of the $600 million facility to the Ghana COCOBOD would soon be completed.

“There are processes that both parties must fulfill. When I talk of both parties, I’m talking about the customer (Ghana) and the client, African Development Bank,” he stated.

Ghana’s cocoa sector employs about 800,000 rural families and produces crop worth about $2 billion in foreign exchange annually.

COCOBOD is a fully state-owned company solely responsible for Ghana’s cocoa industry, controlling the purchase, marketing and export of all cocoa beans produced in the country.

For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

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