An Economist and fiscal policy expert, Dr Alex Ampaabeng has decried the increasing number of staff at the Ghana Cocoa Board. According to him, this has led to an astronomical increase in the company’s operational expenditures.
According to him, this has been a contributing factor to the country’s inability to make profits over the years.
Shedding light on the causes of COCOBOD’s financial struggles, Dr. Ampaabeng said there was an influx of 2,300 new employees in a single year, spanning from 2019 to 2020, driving the total staff count to exceed 10,000 individuals.
“In just one year which is from 2019 to 2020, 2,300 individuals were employed at COCOBOD and the staff costs of the company rose from GH¢783m to over GH¢1.1bn. How is this possible, was it because it was an election year,” he was quoted by norvanreports.com.
The economist intimated that there is a need for comprehensive reforms within COCOBOD to restore profitability, including the privatization of the company.
He added that should retain not more than a 15% stake in COCOBOD.
Meanwhile, the Minister of Food and Agriculture, Dr. Bryan Acheampong, has stated that President Nana Addo Dankwa Akufo-Addo will in the coming days announce some measures in favour of cocoa farmers.
According to the Minister, even though he does not want to jump the gun and disclose details before the President, he is optimistic that the announcement is one that will discourage farmers from trading their Cocoa farms for illegal mining.
“I don’t want to take the wind out of the president’s sail. There’s a big announcement coming for Cocoa farmers in this country. It is unprecedented. There’s going to be a big, big, big announcement for cocoa farmers,” he was quoted by myjoyonlline.com.
Source: www.ghanaweb.com