COCOBOD Needs Over GHS 30bn to Stay Afloat, Says Majority Caucus
The Majority Caucus in Parliament has raised fresh concerns over the financial health of the Ghana Cocoa Board (COCOBOD), cautioning that the institution faces a significant working capital shortfall that could threaten its ability to operate effectively.
Speaking at a press conference in Accra on Thursday, February 19, 2026, the Member of Parliament for Bolgatanga Central, Isaac Adongo, disclosed that COCOBOD requires more than GH¢30 billion in working capital to remain viable, contrary to claims that the Board was left with GH¢60 billion in available resources.
“COCOBOD requires over 30 billion cedis in working capital for it to survive, not the 60 billion left behind. If you look at the accounts, you realise that there is a big hole in there,” Mr. Adongo stated.
His remarks come amid heightened public scrutiny of COCOBOD’s finances and broader concerns over the sustainability of Ghana’s cocoa sector, which continues to grapple with rising operational costs, funding constraints and pressures to improve farmer welfare.
In response to its financial challenges, COCOBOD has announced cost-cutting measures, including salary reductions for its executive management and senior staff. The Board estimates that the move will generate savings of approximately GH¢5 million each month.
Under the arrangement, executive management will take a 20 percent pay cut, while senior staff salaries will be reduced by 10 percent. COCOBOD indicated that the salary adjustments have already taken effect and will remain in force for the duration of the 2025/2026 cocoa crop year.
Meanwhile, government is pursuing additional measures aimed at cleaning up COCOBOD’s balance sheet. It is seeking parliamentary approval to convert a GH¢5.8 billion legacy debt owed to the Bank of Ghana and the Ministry of Finance into long-term obligations.
In addition, road-related liabilities amounting to GH¢4.35 billion are expected to be transferred from COCOBOD to the Ministry of Roads and Highways and the Ministry of Finance, a move intended to ease the Board’s financial burden.
The developments underscore the mounting pressures confronting Ghana’s cocoa industry, as policymakers balance fiscal consolidation efforts with the need to safeguard the sector’s stability and ensure fair returns for cocoa farmers.
