Sustainable Financing Shortfalls Weaken COCOBOD’s Operations – President Mahama

President John Dramani Mahama has raised concerns about Ghana’s inability to secure long-term, sustainable financing for the cocoa sector, cautioning that the situation has eroded the Ghana Cocoa Board’s (COCOBOD) historic strength in raising syndicated loans.

Speaking on Wednesday, February 11, the President acknowledged shortcomings in the management of some state-owned enterprises, including COCOBOD.

“Our stewardship of state-owned enterprises has not always been consistent. Weak governance structures, political interference, and lapses in financial discipline have affected institutions that once served as pillars of stability and credibility,” he said.

He noted that the failure to mobilise sustainable funding for cocoa operations had significantly constrained COCOBOD’s ability to syndicate loans effectively. According to him, the challenges should be viewed not as a blame exercise but as an opportunity to draw lessons and strengthen accountability.

Meanwhile, cocoa farmers nationwide have issued a warning of possible demonstrations over outstanding payments for cocoa beans supplied since November 2025. The farmers say prolonged delays in payment have caused severe financial distress, making it difficult to cater for essential expenses such as medical bills and school fees.

In response to the growing tension, Cabinet has convened an emergency meeting to address the payment backlog and the broader financial pressures facing the cocoa sector. Authorities are expected to outline measures aimed at stabilising COCOBOD’s finances and protecting the livelihoods of farmers.