The Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Dr. Randy Abbey, has appealed to cocoa farmers for patience and understanding as the Board grapples with severe financial challenges that have led to the suspension of the much-anticipated Cocoa Roads projects.
Speaking at a stakeholder meeting in Bechem, Ahafo Region, Dr. Abbey revealed that the Board is burdened with an overwhelming GH¢4 billion debt owed to contractors, which has brought ongoing road construction efforts to a standstill. He disclosed that a significant portion of the debt—GH¢2 billion—stems from contracts awarded under the previous administration, which he said have overstretched COCOBOD’s financial capabilities.
“There is currently no fiscal space to honour payments or begin new projects,” Dr. Abbey said candidly, adding that discussions are ongoing with the Ministry of Roads and Highways to explore ways to resolve the situation.
While the suspension of road projects has frustrated many farmers who depend on improved infrastructure for transporting cocoa, Dr. Abbey urged them not to lose hope. He emphasized that the cocoa industry’s revival hinges on collaboration between farmers, COCOBOD, and government agencies.
“The challenges are immense, but they are not insurmountable. We are counting on our dedicated farmers to stand with us through these trying times,” he said.
Despite the financial setbacks, Dr. Abbey offered a ray of hope, announcing that the 2025/2026 cocoa season will begin in August with a new producer price expected to outpace that of Ivory Coast, a move aimed at incentivizing local cocoa production.
The stakeholder engagement in Bechem is part of Dr. Abbey’s nationwide outreach to connect with farmers, assess their concerns firsthand, and build renewed confidence in Ghana’s cocoa sector amidst ongoing reforms.
