Gov’t Orders Cost-Cutting Reforms at COCOBOD to Improve Efficiency
Cost-control directive to Ghana Cocoa Board aims to improve efficiency and address farmer payment delays as Ministry of Finance rolls out urgent sector reforms announced by Cassiel Ato Forson.
- Government has directed the Ghana Cocoa Board to implement strict cost-cutting and efficiency reforms to curb wasteful spending.
- Finance Minister Cassiel Ato Forson says the measures aim to ensure value for money and improve management practices within the cocoa sector
- The directive follows an emergency meeting led by President John Dramani Mahama to address delayed farmer payments and stabilise Ghana’s cocoa industry
The government has directed the Ministry of Finance to implement cost-cutting measures aimed at improving financial management and operational efficiency at the Ghana Cocoa Board.
The directive was announced on Thursday, February 11, by Finance Minister Cassiel Ato Forson during a press briefing outlining steps to stabilise the cocoa sector amid ongoing challenges.
According to Dr. Forson, the reforms are intended to ensure value for money and strengthen management practices 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 stated.
The announcement follows an emergency meeting convened by President John Dramani Mahama on Wednesday to address pressing concerns in the cocoa sector.
The industry has recently come under pressure due to delayed payments to farmers, sparking concern among stakeholders and calls for urgent intervention to safeguard Ghana’s standing as a leading global cocoa producer.
