Cabinet to publish COCOBOD’s turnaround strategy by end of July 2024
Cabinet will publish the turnaround strategy of Ghana Cocoa Board (COCOBOD) by the end of July 2024, the IMF has revealed in its latest document. This is aimed at restoring COCOBOD’s financial sustainability by strengthening financial oversight; reviewing the producer pricing mechanism to balance the need for a fair distribution of export proceeds to farmers and for covering COCOBOD’s financial and operational costs; rationalizing costs including staffing, industry, and financing costs based on a functional review of COCOBOD’s departments and subsidiaries; and phasing out quasi-fiscal activities entailed by the financing of cocoa roads and fertilizer programmes. According to the International...
