Deputy COCOBOD CEO plots to oust Boss

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…Hides behind First Lady

The Herald, has picked up some interesting developments at the Ghana Cocoa Board (COCOBOD), where one of the Deputy Chief Executives, is desperately scheming to overthrow his boss, Dr Joseph Aidoo, and have access to his position.

Insiders claim that, Emmanuel Ray Ankrah, the Deputy CEO in-charge of Finance & Administration, has been orchestrating this plan since 2021, leveraging connections with opposition politicians, chiefs, and opinion leaders in the Greater Accra Region.

According to sources, Ankrah, has been touting his family ties to First Lady Rebecca Akufo-Addo, as a key weapon in his campaign strategy.

Interestingly, both Dr Aidoo and Ankrah are in their 60s, meaning they have passed their mandatory retirement age.

The Herald is informed of a clandestine meeting at the Peduase Valley Resort near Aburi, between Mr Ankrah and the Ga chiefs and queen mothers in furtherance of what has been described as his “ambitious plan”.

A few days ago, a civil society organisation, United Voices for Change (UVC), issued a strong call for the immediate removal of Dr Joseph Aidoo, the CEO of COCOBOD, citing mismanagement and significant financial losses under his leadership.

But many COCOBOD insiders, suspect UVC to be doing Mr Ankrah’s bidding, as they have never heard of the group before until its statement.

Mr Ankrah, has reportedly assured staff that their conditions will improve under his leadership, boasting of his financial expertise to turn the fortunes of COCOBOD around.

After the 2020 elections, he allegedly left Ghana for the UK for months, awaiting President Akufo-Addo’s announcement that he had appointed him as COCOBOD’s CEO.

He, however, returned disappointed when it became clear to him the President was not going to shake up COCOBOD.

The Herald’s information is that, his lobbying efforts have gained traction even amongst the opposition National Democratic Congress (NDC) Members in Parliament, particularly those on the Food and Agriculture Committee, who chant “COCOBOD is Ray Ankrah” and “Ray Ankrah is COCOBOD.”

This development raises questions about internal power struggles and potential interference in COCOBOD’s leadership.

The convener for UVC, Slyvestine Ronald, expressed deep concern over Dr Aidoo’s continued tenure in office despite overseeing substantial losses within the state institution.

“We call for the dismissal of Dr Aidoo, the CEO of COCOBOD with immediate effect. He has presided over financial decline and recklessness and has failed to fulfil his mandate of generating profit and revenue,” Ronald stated in an interview with JoyNews.

Pointing out alarming losses incurred by the institution in recent years, he cited figures indicating losses of GH¢161.3 million in 2017, GH¢78.22 million in 2018, GH¢320.57 million in 2019, GH¢32 million in 2020, and a staggering GH¢2.44 billion in losses in 2021.

“These losses, which began in 2016, are ballooning by the year, reaching GH¢2.44 billion in 2021,” Ronald explained, underscoring the severity of the financial downturn experienced by COCOBOD.

The organisation also blamed President Akufo-Addo for the consistent losses incurred by State Owned Enterprises (SOEs), including COCOBOD.

United Voices for Change called for urgent measures to be implemented to rescue the deteriorating state institution, highlighting its significance as a major source of employment in Ghana.

“To make the SOEs function again, the CSO says all CEOs who are sleeping on the job should be sacked,” Ronald asserted.

Source: The Herald


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