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The Ghana Cocoa Board (COCOBOD) needs a significant amount of working capital to stay in business, according to the Majority Caucus in Parliament, which has expressed worries about the organization’s financial situation.
Speaking at a news conference on Thursday, February 19, 2026, Isaac Adongo, a member of parliament for Bolgatanga Central and chairman of the Finance Committee of Parliament, pointed out a substantial financial deficit 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.
In the meantime, COCOBOD announced that it might save approximately GH¢5 million each month due to salary cuts for its executive management and senior personnel. Executives will experience a 20% salary reduction, whereas senior employees will see a 10% decrease in their pay. The cuts, as stated by COCOBOD, are already in effect and will persist throughout the entire 2025/2026 crop year.
In an attempt to tidy up COCOBOD’s financial records, the government is pursuing parliamentary consent to transform a historical debt of GH¢5.8 billion owed to the Bank of Ghana and the Ministry of Finance into long-term liabilities. Moreover, road-associated debts totaling GH¢4.35 billion will be shifted from COCOBOD to the Ministry of Roads and Highways as well as the Ministry of Finance.
The advancement occurs alongside increasing pressures in the cocoa industry, such as escalating operational expenses, funding challenges, worries for farmers’ well-being, and heightened public examination of cocoa prices and COCOBOD’s financial situation.
Source: Ghanatodayonline.com
