Work in an innovative way to transform COCOBOD – CEO

Company News of Saturday, July 20, 2019

Source: 3news.com

2019-07-20

The Ghana Cocoa Board's Managing Director (COCOBOD), Joseph Boahen Aidoo, has called on managers and board directors to work innovatively to change the fate of the cocoa industry.

Mr Boahen Aidoo made the call by informing managers and directors of headquarters, divisions and subsidiaries at a meeting at Cocoa House in Accra on key issues regarding the cocoa industry.

He explained the new course that COCOBOD draws; that is, the implementation of Productivity Improvement Programs (PIPs) and other interventions and how to ensure that these programs lead to the successes envisioned by the board.

The head of COCOBOD revealed that it was the first time that the council was meeting in this way because of the importance it attached to its new programs.

He added that COCOBOD was committed to changing the lot of the cocoa sector.

"We do not want you to be on the periphery, but rather that you are active in implementing programs formulated because of the important roles you play."

Mr. Boahen Aidoo suggested that the management and staff of the Commission should position themselves to put the sector on the right track.

"If you do not play well your role, when there will be success, it will be difficult for you to be part of the celebration," he said, adding, "We want to change the traditional ways of adopting the" cocoa industry in this new chapter of COCOBOD. "

Ray Ankrah, Deputy Director General for Finance and Administration, said that COCOBOD's financial policy had changed and that it was necessary to know how to act accordingly to help the sector move forward smoothly.

He noted that without good funding, nothing can be done calling for financial prudence in the implementation of all programs by the Council.

He called for the justification of all the expenses before they could be approved for implementation.

"This time, regardless of the expenses we incurred, we should increase our performance and beat our own production yield record of one million metric tonnes."

He added that it was important for the board to find ways to pay the cost of financing and break with the 27 years of syndicated credit for cocoa purchases.

He concluded that, to do this, COCOBOD had to learn to live within its means in the new paradigm.