Buffer Stock Company assures to settle arrears owed food suppliers

The National Food Buffer Stock Company says it is making plans to settle the outstanding 15% arrears owed food supplies for 2022.

This comes at a time the company has been struggling to settle debts owed to over 200 food suppliers.

The suppliers at a point picketed at the premises of the buffer stock company for four (4) days over the situation.

However, with the assurance of disbursing the 2nd tranche of money to settle the debt on Monday, it appears the food suppliers may have to wait till Tuesday.

Citi News gathers payment will begin on Tuesday, August 22.

Briefing journalists at the meet-the-press engagement, the CEO of the National Food Buffer Stock Company, Abdul Wahab Hannan, said about GH¢2.6 million has been paid to suppliers between 2017 and 2022.

“It’s about GH¢2.7 billion. And like I indicated, these are payments of businesses done between us and our licensed suppliers. It originates from the year 2017 to 2022. Out of that, how much we owe suppliers, is what is currently happening in the system that has resulted in the picketing.”

“Right after the picketing, the government released money for the arrears of the suppliers. And we have paid them 85% of how much we owe them for the year 2022. We don’t owe suppliers any arrears, expect 2022 and 2023. GH¢2.7 billion has been paid also far. What we are left to pay suppliers is less than GH¢30 million”.

There was confusion during a working visit by members of the Minority Caucus to the National Food Buffer Stock Company (NAFCO) on Friday, July 7, 2023.

A video which was in circulation showed the Minister for Food and Agriculture, Bryan Acheampong in a hot exchange of words with the members.

The Minister for Food and Agriculture could be heard telling the Minority Leader “You can’t do that, and you were a deputy Finance Minister and what do you know about paying people or payment that has been made?”

The Minister visited the disgruntled food suppliers on Thursday evening, July 6, and promised to liaise with the Ministry of Finance to have their arrears paid.