87% Of COCOBOD Cocoa Roads Contracts Were Directly Awarded – IMF
An IMF Technical Assistance Report has raised concerns over procurement, project costing and contract management under COCOBOD’s cocoa roads investment programme.
- 87% of cocoa roads contracts were directly awarded.
- IMF flags weaknesses in procurement and contract management.
- Stronger oversight of SOEs recommended.
The Ghana Cocoa Board (COCOBOD) has come under scrutiny over weaknesses in the procurement and management of projects under its cocoa roads investment programme, according to an IMF Technical Assistance Report.
The report referenced an audit which found that 87% of contracts under COCOBOD’s cocoa roads investment portfolio were directly awarded without competitive tendering.
The finding forms part of wider concerns about financial oversight, governance and project management within state-owned enterprises (SOEs).
The IMF report also identified weaknesses in project costing and contract management, noting that these shortcomings contributed to additional financial pressures.
The concerns come as the government continues efforts to manage fiscal risks associated with SOEs, particularly entities operating in sectors facing significant financial liabilities.
The IMF has called for stronger governance and financial controls across state-owned enterprises to reduce the risks their operations pose to public finances.
Among the measures proposed are improved board appointment practices, stronger coordination between the Ministry of Finance and the State Interests and Governance Authority (SIGA), and closer monitoring of investments undertaken by SOEs.
