A prominent labour analyst has revealed that the current government inherited a significant debt burden from the Ghana Cocoa Board (COCOBOD), shedding light on the financial challenges confronting the cocoa sector.
According to the expert, the debt accumulated over several years due to outstanding payments, operational inefficiencies, and rising procurement costs.
This situation, he explained, has constrained COCOBOD’s ability to meet obligations to cocoa farmers promptly and maintain smooth operations across the supply chain.
The labour expert emphasized that while the government is implementing cost-cutting measures, including salary reductions for senior staff and management, these actions are aimed at aligning expenditure with available revenue and ensuring the sustainability of the cocoa industry.
He further noted that understanding the historical context of COCOBOD’s debt is crucial before attributing the sector’s financial difficulties to current administration policies.
“The cocoa sector is vital to Ghana’s economy, and addressing inherited liabilities requires coordinated fiscal and operational strategies,” he added.
COCOBOD management recently confirmed reductions in executive and senior staff salaries, alongside procurement adjustments, as part of ongoing measures to stabilize finances and support farmers during the 2025/26 crop year.
