Dr. Isaac Yaw Opoku raises alarm over delays in cocoa payments to LBCs

Dr. Isaac Yaw Opoku, Ranking Member of the Agriculture and Cocoa Affairs Committee in Parliament, has expressed concern over delays in the repayment of cocoa purchases to Licensed Buying Companies (LBCs).

According to Dr. Opoku, these delays are putting the operations of indigenous cocoa businesses and investments at significant risk.

Speaking in Parliament, Dr. Opoku emphasized that the deferred payments are locking up working capital, hindering business progress, and undermining confidence in financing.

He argued that the delays contradict promises made by the NDC during the pre-election period to support and promote indigenous enterprises in the cocoa sector.

“Contrary to what the NDC preached pre-election to promote indigenous business and investments, they have rather reset to kill the indigenous companies, businesses and enterprises in the cocoa industry,” Dr. Opoku stated.

The Ranking Member’s comments highlight growing concerns among stakeholders regarding the impact of payment delays on Ghana’s cocoa industry, which remains a cornerstone of the nation’s economy. Calls are increasing for swift action to ensure timely settlements and restore confidence in the sector.