Gov’t directs cost-cutting measures at COCOBOD
The government has directed the Ministry of Finance to implement measures aimed at optimising management and expenditure practices at the Ghana Cocoa Board (COCOBOD).
The directive was announced on Thursday, February 11, during a press briefing by Finance Minister Dr. Cassiel Ato Forson, who outlined steps being taken to stabilise the cocoa sector amid recent challenges.
Dr. Forson said the reforms are designed to ensure value for money and improve operational efficiency within COCOBOD.
“Cabinet has directed the Ministry of Finance to initiate immediate reforms at COCOBOD to streamline their operations and cut costs. Wasteful and uncontrolled expenditure practices are to be curtailed immediately,” he said.
The announcement follows an emergency meeting convened by President John Dramani Mahama on Wednesday, February 11, to address pressing issues in the sector.
The cocoa sector has recently faced mounting concerns over delayed payments to farmers, raising alarm among stakeholders and prompting calls for urgent reforms to protect Ghana’s position as a leading global cocoa producer.
