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Ghana cocoa trees initiative owes $600m while the country import $100m tomatoes -Bright Botchway

The Akufo-Addo government has indebted Ghana’s cocoa trees initiative to the tune of $600 million, Mr.Bright Botchway has disclosed.

The central regional Deputy Youth organizer who was then General Secretary for the vibrant Youth pressure group ( Young cadres Association ) affiliated to National Democratic Congress (NDC )told Lucky Tv Kasoa based Host Mr Oti Faaben Kakra Yesterday during their morning political show:

“For the first time in the history of cocoa in Ghana, the NPP government has used Ghana’s cocoa to go for a $600 million to plant cocoa trees to replace dead ones”.

“There’s a two-year moratorium on that loan”, he added

After the grace period, “Ghana will use seven years to pay that loan”, he noted.

“So, that means even our cocoa trees owe $600 million”, thanks to President Akufo-Addo and Mr Bawumia administration” he mocked

Apart from cocoa trees having been plunged into debt by the Akufo-Addo government, Mr Botchway also indicated that the incumbent administration “has collateralized revenue accrued to the Ghana Education Trust Fund (GETfund) for 10 years for a $1.5 billion loan”.

“So, for the next 10 years, 60 per cent of the GETfund will be used to pay that $1.5 billion debt.

This move robs the education sector of the much-needed funds in finding pragmatic steps arresting the challenges in the education sector”, he said.

Despite the $1.5 billion loan for which accruals to the GETfund have been collateralized, he divulged that the current administration has failed woefully to even build a single senior high school or university in the past four years.

He noted that the Akufo-Addo government has used Ghana’s bauxite to go for a $2 billion loan from China – the Sino Hydro deal.

In his view, the government has mortgaged Ghana’s bauxite resources through the deal, meaning “no bauxite for the next generation to come”

By Lawrence Odoom

Disclaimer: The opinions expressed in this publication do not in anyway reflect the opinions of State News Ghana

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