The Majority Caucus in Parliament has claimed that the Ghana Cocoa Board (COCOBOD) requires GH₵30 billion to remain operational.
This was disclosed by Chairman of Parliament’s Finance Committee and Member of Parliament for Bolgatanga Central, Isaac Adongo, at a press conference on February 19, 2026.
He noted that the institution requires substantial working capital to remain functional. The concerns were raised during a press briefing on February 19, 2026.
“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.
He also noted that the opposition New Patriotic Party had no moral right to comment on the issues of cocoa because it was through their mismanagement that the sector has been faced with these challenges.
COCOBOD executives and senior staff are taking pay cuts of 20% and 10%, respectively, effective until the end of the 2025/26 crop season, expected to save GH¢5 million monthly.
The government is also pursuing structural reforms, including converting a GH¢5.8 billion legacy debt to long-term instruments and transferring GH¢4.35 billion in road-related liabilities to relevant ministries.
By: Rainbowradioonline.com/Ghana
