Education Minister Haruna Iddrisu has expressed deep concern over the financial troubles facing the Ghana Cocoa Board (COCOBOD), questioning how the once-thriving institution has fallen into heavy debt.
Speaking on Joy FM’s Super Morning Show, Iddrisu challenged policymakers to explain the decline of COCOBOD, which for decades served as the backbone of Ghana’s economy.
“How is it that COCOBOD, which was once a pillar of our economy, is now struggling financially?” he asked.
His remarks come in the wake of the 2025 Budget presentation by Finance Minister Dr. Cassiel Ato Forson, which he argued did not fully capture the severity of COCOBOD’s challenges. He stressed that the agency’s debt crisis is far more complex than what was outlined in the budget.
Once a key driver of foreign exchange earnings and rural employment, Ghana’s cocoa industry now faces declining production, rising debts, and concerns over financial mismanagement. Iddrisu warned that the sector’s struggles could have far-reaching consequences, affecting farmers’ livelihoods and reducing national revenue.
He further stated that “economic growth alone is not enough if it does not translate into improved livelihoods for ordinary Ghanaians.”
Iddrisu called for urgent reforms to stabilize COCOBOD, restore investor confidence, and ensure cocoa farmers receive fair compensation for their hard work.
