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I will abolish existing cocoa loan syndication arrangements as president – Alan

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The founder of the Movement for Change, Alan Kwadwo Kyerematen, has pledged to abolish existing cocoa loan syndication arrangements to reduce borrowing so Ghana can get the full value of its cocoa exports. 

Cocoa is currently Ghana’s most important export commodity. 

Speaking on his vision for the cocoa sector via social media on Friday, June 28, 2024, the former Trade Minister, who is contesting the 2024 Presidential elections as an independent candidate, said “Every year we borrow around 2 billion dollars through cocoa loan syndications yet the government pays cocoa farmers in Ghana cedis. This and other issues allow for loss of revenue and corruption in our cocoa industry.”

“As president I will abolish existing cocoa loan syndication arrangements to reduce borrowing so Ghana can get the full value of its cocoa exports,” he stated. 

Mr Kyerematen, who recently launched his “Great Transformational Plan (GTP)”, the blueprint that will guide his policies to turn around the country’s economy should he be voted for as President in the upcoming December 7 polls, further pledged to “increase private sector participation in the cocoa industry through the stock exchange.”

He also pointed out that he “will consolidate the Balance Sheet of the Cocoa Board as part of the Government’s Balance Sheet.”

Source: Graphic.com.gh

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