The Majority Caucus in Parliament has expressed alarm over the financial health of the Ghana Cocoa Board (COCOBOD).
It cautions that the institution requires substantial working capital to remain functional. The concerns were raised during a press briefing on February 19, 2026.
Chairman of Parliament’s Finance Committee and Member of Parliament for Bolgatanga Central, Isaac Adongo, disclosed that COCOBOD faces a significant liquidity gap.
“COCOBOD requires over GH¢30 billion in working capital for it to survive, not the GH¢60 billion left behind. If you look at the accounts, you realise that there is a big hole in there,” he stated, underscoring the scale of the financial challenge.
In response to financial strain, COCOBOD has announced cost-cutting measures, including salary reductions for its executive management and senior staff.
Executives are taking a 20 per cent pay cut, while senior staff will forgo 10 per cent of their salaries. The reductions have already taken effect and will remain in place for the rest of the 2025/26 crop season, with the Board estimating savings of about GH¢5 million each month.
Government is also pursuing structural reforms aimed at stabilising the Board’s balance sheet. Parliamentary approval is being sought to convert a GH¢5.8 billion legacy debt owed to the Bank of Ghana and the Ministry of Finance into long-term instruments.
Additionally, road-related liabilities amounting to GH¢4.35 billion are expected to be transferred to the Ministry of Roads and Highways and the Ministry of Finance.
The measures come at a time of heightened pressure within the cocoa sector, marked by rising operational costs, funding constraints, farmer welfare concerns and increased public scrutiny over cocoa pricing and COCOBOD’s financial management.
