We inherited cocoa sector with GH¢32 billion in liabilities – Finance Minister

Finance Minister Dr Cassiel Ato Forson has revealed that President John Mahama's administration inherited a heavily indebted cocoa sector, burdened with liabilities amounting to GH¢32 billion.

Delivering the 2025 Mid-Year Budget Statement to Parliament on Thursday, July 24, Dr Ato Forson described the financial state of Ghana’s cocoa industry at the time of transition as deeply troubling and unsustainable.

“We inherited a debt-ridden cocoa sector with liabilities of GH¢32 billion,” he stated, noting that the situation threatened the sector’s viability and the livelihoods of thousands of farmers.

According to him, the debt was the result of years of poor financial management, excessive borrowing, and operational inefficiencies within the Ghana Cocoa Board (COCOBOD).

These challenges, he added, led to serious cash flow constraints, delayed payments to farmers and contractors, and reduced investment in cocoa infrastructure and sustainability programmes.

Dr. Ato Forson indicated that the government has begun implementing corrective measures to restore the sector’s financial health. These include a comprehensive audit of COCOBOD’s finances, debt restructuring, and policy reforms aimed at enhancing transparency, efficiency, and farmer welfare.