The Ghana Cocoa Board (COCOBOD) has, in the wake of Ghana successfully securing a bailout from the International Monetary Fund (IMF), relieved some of its officers of their job, in an apparent move to downsize its staff strength.
COCOBOD, led by its Chief Executive Officer (CEO), Joseph Boahen Aidoo, is said to be facing some challenges with funding in recent days, a development which is affecting some of its programmes.
The affected officers, who are enumerators with degrees and HND holders, working under the Cocoa Management System (CMS), will effective June 1, 2023 cease to work with the board.
Though information concerning this matter is sketchy, The Anchor has gathered that the enumerators, who were engaged a while ago, would have had their contract ending on June 30, 2023, with a likelihood of extension.
They were recruited by COCOBOD to register cocoa farmers across the country, where the crop is widely grown, purposely for a cocoa farmers pension scheme initiative.
A termination of contract letter dated, May 17, 2023 and sighted by The Anchor addressed to all enumerators through the national coordinator, Cocoa Management Systems, stated, “Management wishes to inform all Enumerators under the Cocoa Management System (CMS) to take note that their contract ends on 1 June 2023 instead of 30th June 2023.”
The letter, signed by the Director, Human Resource, Francis Gyamfi Ocran, and copied the Deputy Chief Executive (F&A Operation), National Coordination, CMS, added, “By a copy of this letter, the Director, Finance is requested to cease payment of their salaries effective 1 June 2023. We count on our co-operation.”
have to decide whether to sell their securities to willing investors or seek legal redress.
The situation, which had occurred as a result of government domestic debt restructuring programme, left many investors frustrated and disappointed, and feeling uncertain about their investments.
The Cocoa Bill was introduced in 2022 as additional options to the public who wanted to invest and a means of easing the cyclical pressure on the cedi, which was in its worst state. It had been a mainstay of the domestic capital market-particularly the 182-day variant.
They have recorded successful sale on account of the strength of its underlying asset, being the ever-important commodity, cocoa.
Source: Anchorghana.com