COCOBOD suspends Cocoa Roads projects over GHS 4 Billion Debt to Contractors
The Ghana Cocoa Board (COCOBOD) has suspended all ongoing Cocoa Roads projects nationwide due to its inability to settle outstanding debts owed to contractors, Chief Executive Officer Dr. Randy Abbey has disclosed.
Speaking at a stakeholder engagement with cocoa farmers in Bechem in the Ahafo Region, Dr. Abbey revealed that COCOBOD is saddled with a staggering GHS 4 billion debt for road works already executed.
He blamed the debt burden on contracts worth GHS 2 billion signed under the previous administration, which he described as financially unsustainable for the Board.
“There is currently no money available to pay contractors, let alone initiate new road projects,” Dr. Abbey stated. “We are in discussions with the Ministry of Roads and Highways to find practical ways of clearing this debt.”
He appealed to cocoa farmers to exercise patience, acknowledging the sector’s current difficulties and the critical role farmers play in its revival.
“The cocoa industry is facing serious challenges, and only our hardworking farmers can help revive it,” he emphasised. “Your support is crucial in restoring confidence and productivity in the sector.”
Despite the financial strain, Dr. Abbey offered some optimism, disclosing that the 2025/2026 cocoa season will open in August this year, with a producer price expected to exceed that of neighbouring Ivory Coast.
The Bechem engagement forms part of Dr. Abbey’s nationwide tour aimed at strengthening ties with cocoa farmers, gathering feedback, and forging collaborative efforts to reposition Ghana’s cocoa sector.
