The Chief Executive Officer of Ghana COCOBOD, Joseph Boahen has revealed that since the outbreak of the coronavirus in Ghana, been partaking in international conferences with partners through technology, hence syndication will not be affected by the outbreak of the pandemic.
There were fears that COCOBOD syndication may not happen following the coronavirus outbreak which is devastating the global economy.
However, Mr Boahen Aidoo has assured stakeholders that players in the cocoa sector are working through the use of modern technology in spite of the pandemic hence no need to panic.
He added that the timing of the cocoa syndication has changed but not cancelled entirely.
Speaking in interview with TV3, the CEO stated that “There have been some meetings outside Ghana that because of the COVID-19 pandemic we cannot travel to take part but we are doing conference calls to take part.”
He added : “We are also rescheduling the programme of syndication. The timing may delay but again but it will not mean that we cannot have syndication at all. Definitely syndication will take place.”
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He comtinued that the COVID-19 will not have serious impact on production in the 2021 crop season because Ghana Cocoa board is in full operation despite the outbreak.
“We are working around the clock to ensure that the services that will go to our cocoa farmers are delivered and we are doing so with all our allied agencies.
“Nothing is halting our operations and let me also assure our farmers that purchasing of cocoa is also not stopped.”
Meanwhile, The Ghana’s cocoa industry could be hit hard as the coronavirus pandemic has not just plunged cocoa prices on the world market but also stalled the current syndication process for loan facilities for the 2020/2021 crop season.
CEO of COCOBOD, Joseph Boahene Aidoo disclosed that the plunge in cocoa prices has so far caused the country $1 billion, fearing for the worse should the pandemic persist.
