The Chairman of the Board of Directors of Ghana Cocoa Board (COCOBOD), Dr. Samuel Ofosu-Ampofo, has inaugurated three key sub-committees aimed at promoting transparency, accountability, and sustainable growth within Ghana’s cocoa industry.
The committees, the Finance Committee, the Cocoa Tertiary Education Trust and Scholarship Committee, and the Cocoa Sector Marketing Committee (COSMARC), were officially inaugurated at a ceremony held at COCOBOD Headquarters in Accra on Tuesday, October 21.
In his address, Dr. Ofosu-Ampofo described the inauguration as a major step in aligning COCOBOD’s work with the government’s Reset Agenda under President John Dramani Mahama, emphasizing the Board’s renewed commitment to discipline, efficiency, and sustainability in the cocoa sector.
He noted that the Finance Committee, chaired by Thomas Ampem Nyarko, Deputy Minister of Finance, will play a crucial role in restoring fiscal discipline amid the institution’s financial challenges, including a debt stock of about GHS 32 billion. The committee is expected to ensure transparent and responsible financial management to strengthen public confidence and guide COCOBOD toward stability.
Dr. Ofosu-Ampofo further highlighted the importance of the Cocoa Tertiary Education Trust and Scholarship Committee, chaired by Dr. Johnson Asiama, a former Deputy Governor of the Bank of Ghana. The committee will oversee the newly established Cocoa Tertiary Education Trust Fund, designed to support tertiary education, vocational training, and capacity-building opportunities for children of cocoa farmers and workers.
“Education remains a cornerstone of national development,” he said. “Through this Trust Fund, we aim to empower the next generation of cocoa farmers and equip them with the skills needed to sustain and transform the industry.”
The Cocoa Sector Marketing Committee (COSMARC), chaired by Sampson Ahi, Member of Parliament for Bodi, will be responsible for promoting transparency and fairness in cocoa marketing. Its mandate includes reviewing the performance of Licensed Buying Companies (LBCs), monitoring market trends, and proposing policies to ensure sustainability and equity across the cocoa value chain.
Dr. Ofosu-Ampofo urged committee members to engage directly with cocoa-growing communities to better understand the challenges farmers face and incorporate their insights into policy decisions.
The Chief Executive of COCOBOD, Dr. Randy Abbey, commended the establishment of the committees, noting that it aligns with COCOBOD’s broader transformation agenda aimed at building a more resilient and inclusive cocoa economy.
He said the move reinforces the Board’s commitment to maintaining Ghana’s global leadership in sustainable and quality cocoa production.
The chairpersons of the committees expressed appreciation to government and COCOBOD for the confidence reposed in them and pledged to execute their mandates with professionalism, transparency, and dedication.
The inauguration of these three committees marks another milestone in COCOBOD’s efforts to enhance governance, strengthen institutional accountability, and ensure the long-term sustainability of Ghana’s cocoa sector.
Source: AdomOnline
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