Finance Minister Dr. Cassiel Ato Forson has revealed that the current administration inherited a heavily indebted cocoa sector, burdened with liabilities amounting to GH¢32 billion.
Speaking during the presentation of the 2025 Mid-Year Budget Statement to Parliament on Thursday, July 24, Dr. Forson described the financial state of the Ghana Cocoa Board (COCOBOD) at the time of transition as alarming and unsustainable.
“We inherited a debt-ridden cocoa sector with liabilities of GH¢32 billion,” he told lawmakers, noting that the situation posed a serious threat to the long-term viability of the sector and the livelihoods of thousands of cocoa farmers.
According to the Minister, the sector's financial woes were the result of years of poor fiscal discipline, excessive borrowing, and operational inefficiencies within COCOBOD. These challenges, he said, led to severe cash flow issues, delayed payments to farmers and contractors, and a sharp decline in investments aimed at cocoa sustainability and infrastructure.
Dr. Forson noted that the government has since launched a series of corrective measures aimed at restoring the sector’s financial stability.
These include comprehensive audits of COCOBOD’s finances, debt restructuring efforts, and targeted reforms to enhance transparency, improve operational efficiency, and prioritise farmer welfare.
He reaffirmed the administration’s commitment to revitalising Ghana’s cocoa industry, which remains a cornerstone of the national economy and a vital source of income for rural communities.
