As cocoa farmers are absorbing the shock of slashed cocoa producer prices, the Chief Executive Officer of the Ghana Association of Banks (GAB), John Awuah, says their sacrifice must not be in vain.
John Awuah forcefully argues that if the innocent farmers are bearing the brunt, then it must be followed by drastic reforms at COCOBOD.
He explains that while the price cut is painful, it was necessary to prevent the COCOBOD from collapsing under the weight of financial strain.
In a comment on the cocoa sector turmoil cited by The High Street Journal, John Awuah acknowledged the hardship farmers are facing but insisted the decision was unavoidable given falling global prices and COCOBOD’s fragile finances.
But beyond defending the price adjustment, he strongly believes that if farmers are tightening their belts, then COCOBOD must do the same.
According to him, this is the moment to purge the institution of waste, overstaffing, procurement weaknesses, unproductive structures, and operational misalignment that have, over time, weakened its efficiency.
The sacrifice, he insists, must not be one-sided.
“To our farmers, it is unfortunate, but you can’t blame the managers of the economy. They have made a decision to save COCOBOD from collapsing at the current guaranteed price. Rest assured that when the world market price improves, similar pressure will be put on the government to restore it in line with the going price at the time. As difficult as this might be for you and your household, the government has done the right thing to keep COCOBOD going, the CEO of GAB recounted.
He added, “It is now time to purge COCOBOD of the waste, overstaffing, unproductivity, procurement ineptitude, and operational misalignment.”
COCOBOD has long played a central role in Ghana’s economy, managing one of the country’s most important export commodities. But in recent years, concerns over rising debts, high administrative costs, and operational inefficiencies have grown louder.
John Awuah believes that the current crisis should be the turning point for transformational change in the existence of the board.
He also commended Finance Minister Cassiel Ato Forson for what he described as decisive leadership in “grabbing the bull by the horns,” even if the action came later than expected. In his view, the move signals a renewed commitment to fiscal responsibility, not just in rhetoric, but in action.
