Ghana’s troubled COCOBOD, which decided to buy computer keyboards from a company that reportedly sells the product online for GHc2550 each at GHc4500 rather, says it hasn’t gone ahead with the purchase.
The claim of not effecting the purchase is in spite of final approval by the company for the purchase on March 7, 2024.
In a statement issued today, April 1, 2024 COCOBOD admitted the legitimacy of the Memo but claimed that the idea for buying the keyboards was only a proposal from the Information Systems Department of the Company.
The PR Outfit of the Company also claimed that the the Management of COCOBOD had not sanctioned the purchase yet, while the minutes on the face of the Memo showed various approvals for the deal, with the final being minuted a day after Ghana’s independence anniversary.
Significantly, the detailed minutes on the Memo showed that the approvals started on February 27, 2024 through February 28, 2024 to March 7, 2024.
Only thing that may have been outstanding could have been the actual purchase and payment of same, not the approvals, sources say.
The failing COCOBOD is chaired by former NPP Chairman and Veep Bawumia’s campaign lead, Peter Mac-Manu. It also has BoG Governor Ernest Yedu Addison, a Deputy Finance Minister, a Deputy Minister of Trade, COCOBOD CEO, Joaeph Boahen-Aidoo and others on the Board.
Some Ghanaians have expressed concern on how the troubled company saw the need to buy 15 keyboards at higher than market prices for Members of the Board who mostly also serve in top public positions within the same Government.
The IMF in its last review of the Company for Ghana’s bailout barely a year ago in May 2023 noted that the Company was distressed, having generated losses for years under the Akufo-Addo-Bawumia administration.
“Ghana’s Cocoa Board (Cocobod) — the state-owned entity mandated with facilitating cocoa production and exercising export monopoly — has accumulated annual losses for many years, due to high rollover cost of outstanding cocoa bills, high purchase price to cocoa producers compared to its operational costs,
and elevated quasi-fiscal operations (e.g., fertilizers provision, rural roads development) that have also been a burden on the Board’s administrative expenses.”
Story Shaibu Terry