We made GH₵2bn profit in 2022/2023 – Cocobod CEO reveals

Joseph Boahen Aidoo, CEO of Cocobod, has announced that the organization made a profit of over GH₵2 billion for the 2022/2023 fiscal year, marking a significant turnaround from a GH₵2 billion loss in 2021.

Speaking on Joy FM, Aidoo attributed past losses to maintaining farmer payments despite financial strain, a move he deemed crucial for the national interest and the survival of the cocoa industry.

He highlighted challenges such as adverse weather, bean disease, and illegal mining.

Ghana, the world’s second-largest cocoa producer, is delaying the delivery of 350,000 tons of beans due to poor crops, affecting global cocoa prices.