The Majority Caucus in Parliament has raised concerns over the financial state of the Ghana Cocoa Board (COCOBOD), warning that the institution requires substantial working capital to remain operational.
Speaking at a press conference on Thursday, 19 February 2026, the Chairman of the Finance Committee of Parliament, and Member of Parliament for Bolgatanga Central, Isaac Adongo, highlighted a significant funding shortfall in the Board’s accounts.
“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,” Adongo said.
Meanwhile, COCOBOD has revealed that it could save an estimated GH¢5 million monthly following salary reductions for its executive management and senior staff. Executives are taking a 20% pay cut, while senior staff will have 10% deducted from their salaries. The reductions, according to COCOBOD have taken effect already and will remain for the rest of the 2025/2026 crop year.
As part of efforts to clean up COCOBOD’s balance sheet, the government is seeking parliamentary approval to convert a legacy debt of GH¢5.8 billion 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 will be transferred from COCOBOD to the Ministry of Roads and Highways and the Ministry of Finance.
The development comes amid mounting pressures in the cocoa sector, including rising operational costs, financial constraints, concerns over farmers’ welfare, and intensified public scrutiny of cocoa prices and COCOBOD’s finances.
