Ghana Cocoa Board (COCOBOD) has announced the discontinuation of six cocoa road projects due to financial challenges.

These initiatives were among 14 road projects started by COCOBOD between 2015 and 2016, covering seven regions and estimated to cost 370 million Ghana cedis.

After nearly ten years, none of these roads have been finalized.

In a presentation to the Public Accounts Committee, COCOBOD's Chief Executive Officer, Joseph Boahen Aidoo, explained that the institution’s financial challenges have made it unfeasible to proceed with six of these initiatives.

He added that a table provided to the committee outlines the official cessation of these six projects, while the remaining ones are being reorganized for completion.

Mr Aidoo assured the committee that should resources become available in the future, the cancelled projects may be reconsidered. “But I give that assurance that one’s resources are available they would be definitely taken on board.”

Regarding a separate matter involving an 8.3 million cedis rent debt noted by the Auditor-General, COCOBOD is facing difficulties in retrieving 6.8 million cedis owed by the Produce Buying Company (PBC). Ray Ankrah, COCOBOD's Deputy CEO for Finance and Administration, offered an update on the issue.

"The rent arrears for Jubilee House, amounting to 102,000 cedis, have been fully settled. Additionally, the outstanding rent for properties on Lake Road in Kumasi, totaling 263,307.06 cedis, has been recovered. The Sunyani Jubilee House rent of 74,771 cedis has also been collected. This accounts for approximately 67% of the total outstanding debt.

"However, we are facing challenges with the PBC's debt of 6,851,517.51 million cedis, which remains unpaid. Management has engaged with PBC to discuss and agree on a payment plan, and we are confident that as the new season begins, we will be able to recover these funds through their Credit to Revenue (C2R) arrangements," Mr Ankrah explained.