The Ghana Cocoa Board's (COCOBOD) syndicated loan model was never sustainable, with significant portions of borrowed funds spent on administration rather than core operations, former Lands and Natural Resources Minister Alhaji Inusah Fuseini has stated. The former Tamale Central Member of Parliament, speaking on Joy FM's Newsfile programme, criticised the financial management that has left COCOBOD struggling with debt and unfulfilled delivery contracts. "Anytime they took the syndicated loan, they spent a heavy part of the syndicated loan on themselves, on administration. We raised red flags that this model was not sustainable," Fuseini said.
