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COCOBOD, African Development Bank celebrate disbursement of loan to boost cocoa productivity

Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer.
The occasion was marked by a ceremony held in Accra, Ghana on Tuesday, June 23, 2020 was followed online by hundreds of observers across the globe.
In attendance were COCOBOD and government representatives and participating lenders, which included development finance institutions: the African Development Bank, the Japan International Cooperation Agency (JICA), the Development Bank of Southern Africa, among others.
The $600 million syndicated loan agreement was signed in November last year at the Africa Investment Forum in Johannesburg, South Africa.
JICA and the African Development Bank agreed to provide $3.5 billion in joint financing under the fourth phase of the Enhanced Private Sector Assistance for Africa Initiative.
Joseph Boahen Aidoo, Chief Executive Officer of COCOBOD, highlighted the challenges of production, processing and distribution of cocoa in the country but noted that efforts were being made to address them.
“By strengthening the cocoa bean-centric agricultural value chain and related industries, the facility will help COCOBOD to contribute to achieving Sustainable Development Goals,” he said.
According to officials, COCOBOD would use the facility to raise cocoa yields per hectare and increase Ghana’s overall production.
Activities under the facility would include the allocation of financing to sustainably increase cocoa plant fertility, improve irrigation systems, and rehabilitate aged and disease-infected farms.
The funds would help increase warehouse capacity and provide support to local cocoa-processing companies also.
Dr Jennifer Blanke, African Development Bank Vice President for Agriculture, Human and Social Development, said “loan to COCOBOD aims to improve the quantity and quality of local processing, boosting incomes of local farmers and their communities and generating new and better jobs.”
Yasumichi Araki, Chief Representative of JICA Ghana, said “JICA will continue to commit to the cocoa industry in Ghana through innovative interventions to COCOBOD.”
The Development Bank of Southern Africa is also partnering with COCOBOD to further enhance Ghana’s position as one of the leading producers of quality cocoa in the world.
-News Desk
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High Court issues bench warrant for disputed Akwatia MP following contempt conviction

A Koforidua High Court has issued a bench warrant for the arrest of Ernest Yaw Kumi, the presumed winner of the Akwatia parliamentary seat in the Eastern region, after convicting him of contempt of court.
The court issued the bench warrant for Kumi’s arrest after he failed to attend court.
The conviction comes after he disobeyed an interim injunction against him on January 7, prohibiting him from being sworn in and admitted as the Member of Parliament-elect for the Akwatia constituency due to an ongoing legal contest over his election.
Mr Kumi presented himself in Parliament to be sworn in on January 7, 2025.
The Judge, Justice Senyo Amedahe held that the convict, throughout the hearing of the contempt case, failed to appear in court in person.
He also rejected a letter from the minority side of Parliament claiming the MP was busy with parliamentary duties, hence his continuous absence from court.
The judge rejected the letter, insisting he would be going against his own ruling should he accept the letter from the minority caucus.
Source: Myjoyonline.com
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Asset declaration is good, but lifestyle audit is key among public officials – Domelevo to Mahama

Former Auditor General Daniel Yaw Domelevo has commended President John Mahama for declaring his assets but stressed the need for a lifestyle audit to effectively curb corruption among public officials.
Speaking on Joy News’ PM Express on Tuesday, February 18, he acknowledged the President’s move as a “good gesture” but raised concerns about the process.
“It is good to see that the President has declared his assets,” he said.
According to him, “I was not too happy seeing the envelope being given to the Auditor General because that goes more or less to support what people have all along been saying—that you put your declaration in an envelope, seal it, and give it to the Auditor General, which is not the case anyway.”
“This should have gone through the entire process so that they capture it because you are supposed to verify the signature and be sure that the form has been properly completed. That at least should have been done, but it was not done,”he said.
While appreciating President Mahama’s directive for his appointees and public office holders to declare their assets by March 31, Domelevo expressed reservations about the timeline.
“To be honest with you, I think March 31 is too far away because the Constitution provides that it should be declared before you take office,” he argued.
He added that “Some will argue that Act 550 allows six months, but Act 550 contradicts the Constitution. I have a letter in my possession, written by former Attorney General Gloria Akuffo, confirming that the provisions of subsection 4(1) of Act 550 contradict the Constitution. However, we have all been upholding and following that.”
Daniel Domelevo was particularly pleased with Mahama’s commitment to hold non-compliant officials accountable.
“I’m also happy the President says those who don’t declare are going to be punished or asked to leave office. I think that will cut across everybody, and that will be good,” he stated.
However, the former Auditor General stated that asset declaration alone is insufficient in tackling corruption.
“This declaration is good. We must add to it what we call a lifestyle audit and the reversal of the burden of proof,” Mr Domelevo insisted.
“If we don’t do these two things so that we can audit and find out ‘how did you get this money?’, people are going to hide their resources or their assets with their families and friends. Everybody who is suspected of being an ally of a political or public office holder must be subjected to a lifestyle audit,” he concluded.
Source: Myjoyonline.com