The Ghana Cocoa Board’s Board of Directors has agreed to abolish sitting allowances for the remainder of the 2025/26 season as part of a broader effort to restore fiscal credibility to the country’s cocoa sector.
This move demonstrates a high-level commitment to shared sacrifice, underscoring the organisation’s dedication to implementing an aggressive structural overhaul aimed at ensuring the industry’s long-term viability.
The Board’s resolution is anchored on three key pillars: fiscal prudence, accountability, and farmer protection.
“This decision reflects the Board’s commitment to prudent financial management, shared sacrifice, and responsible leadership as COCOBOD undertakes critical reforms to address recent challenges and restore confidence across the cocoa value chain,” the notice said.
According to the Board, it remains committed to ensuring enhanced efficiency, safeguarding the livelihoods of the cocoa farmers and promoting accountability.
This it said it will do in collaboration with the government.
“The Board reiterates its dedication to supporting measures that enhance efficiency, promote accountability, and safeguard the livelihoods of cocoa farmers, while working collaboratively with government and stakeholders to secure a resilient and sustainable future for Ghana’s cocoa industry.”
The executives and senior staff of Ghana Cocoa Board have likewise implemented immediate salary reductions of 20% and 10%, respectively, in response to liquidity challenges.
These reductions, effective until the end of the 2025/26 crop year, form part of a comprehensive cost-reduction strategy that includes stringent procurement controls and staff rationalisation.
By: Rainbowradioonline.com/Ghana
