Gov’t Settles GH¢3.4bn of COCOBOD’s GH¢17.8bn Debt — Sagnarigu MP

The Member of Parliament for Sagnarigu, Attah Issah, has attributed the financial strain facing the Ghana Cocoa Board (COCOBOD) to a substantial debt burden inherited at the end of 2024.

According to him, COCOBOD began 2025 with about GH¢17.8 billion in outstanding loans, excluding other liabilities, creating significant pressure for the current administration. He explained that the loans require repayment of both principal and interest by the present government.

Issah noted that since taking office, the National Democratic Congress (NDC) administration has already paid GH¢3.4 billion toward the total loan stock.

He disclosed that as of February 2026, COCOBOD owed approximately GH¢1.872 billion to the African Development Bank from a facility secured in 2024. By the time the new administration assumed office, the outstanding balance stood at GH¢1.72 billion, of which GH¢1.2 billion has since been repaid under the leadership of COCOBOD Chief Executive Randy Abbey and the Finance Ministry.

The MP added that interest on the AfDB loan had accrued to GH¢209 million, with GH¢165 million already settled by current COCOBOD management.

He outlined additional liabilities including a 10-year facility from the Bank of Ghana with a GH¢1.3 billion principal and GH¢65 million in interest, GH¢1.8 billion owed to the Ministry of Finance, and cocoa bonds amounting to GH¢9.3 billion.

Issah argued that the scale of the debt has weakened COCOBOD’s financial position and limited its ability to secure fresh financing, as lenders assess repayment capacity before extending credit.

He revealed that the Ministry of Finance is pursuing restructuring measures aimed at strengthening COCOBOD’s balance sheet. These include converting short-term liabilities into equity to improve financial health and make the institution more attractive to investors.