Isaac Adongo is the Member of Parliament for Bolgatanga Central
The Majority 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, 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 GH¢5 million each month.
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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.
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