The Chief Executive of Ghana Cocoa Board (Cocobod), Joseph Boahen Aidoo, has revealed that his outfit has made a significant profit of over GH₵2 billion for the 2022/2023 fiscal year.
Speaking on Joy FM’s Super Morning Show, Mr Aidoo said despite the financial challenges he faced when he assumed office, Cocobod has turned the corner to rake in more revenue for the industry.
“Today, the industry has survived and Cocobod today is healthy. In 2022/2023, we made over GH₵2 billion in profit.
“Currently, it is at the management level; once it passes through the board, it will be published and everybody will know. So we’ve turned things around,” he indicated.
His revelation is a stark contrast to Cocobod’s financial performance in 2021 when it recorded a loss of GH₵2 billion.
Mr Aidoo explained that this loss was the result of a strategic decision to maintain farmer payments despite the organisation’s financial strain.
“It was a nationally prudent decision that Cocobod maintained the money it paid to farmers which resulted in losses for Cocobod.
“This is because we were torn between the national interest and the Cocobod interest. The national interest here is the cocoa industry itself.”