COCOBOD requires GHS30 billion lifeline to remain solvent- Majority Caucus
News
Isaac Adongo
The Majority Caucus in Parliament has sounded the alarm over the precarious finances of the Ghana Cocoa Board (COCOBOD), cautioning that the state agency needs a significant injection of working capital to sustain its operations.
Addressing journalists today, the Member of Parliament for Bolgatanga Central, Isaac Adongo, disclosed that a sizeable shortfall has been identified in the Board’s books, raising questions about its liquidity position.
In a related development, COCOBOD announced internal cost-cutting measures expected to reduce expenditure by about GHS5 million each month.
The austerity steps include a 20 per cent reduction in the remuneration of executive management and a 10 per cent cut for senior staff.
The adjustments, which have already taken effect, will run through the remainder of the 2025/2026 cocoa season
Source: Classfmonline.com/Zita Okwang
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