Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), Jerome K. Sane, says the institution has begun implementing cost-cutting measures as part of efforts to address its mounting debt of GHC30 billion.
In an interview on radio last week, he stressed that financial discipline has become central to COCOBOD’s operations, noting that the CEO and his deputies are leading the reform by cutting back on unnecessary travel.
He expressed optimism that with the right policies and programmes, COCOBOD can overcome its financial difficulties.
“Today, if you are to come to COCOBOD, there is a lot of discipline, financial discipline. We are not doing the very things that we were doing when we had money.
“Today at COCOBOD, the CEO and his Deputies have even cut some kind of unnecessary travel. Unless it is justified to ascertain that, it is imperative to the sustenance of the organisation. About 50% of foreign travels are off to save money,” he stated.
Meanwhile, the Industrial and Commercial Workers Union (ICU) has cautioned the government, insisting that the only way to prevent the collapse of Ghana’s cocoa sector is to immediately write off COCOBOD’s debt of over GHC30 billion.
