Government has unveiled plans to convert GH¢5.8 billion in legacy debt owed by the Ghana Cocoa Board (COCOBOD) to the Bank of Ghana and the Ministry o
Government has unveiled plans to convert GH¢5.8 billion in legacy debt owed by the Ghana Cocoa Board (COCOBOD) to the Bank of Ghana and the Ministry of Finance as part of a comprehensive reform programme to stabilise the cocoa sector.
The announcement was made on February 13, 2026, by Finance Minister Cassiel Ato Forson during a press briefing outlining government’s policy direction for the industry.
According to Dr Ato Forson, the proposed restructuring is aimed at tackling long-standing financial pressures confronting COCOBOD and restoring its financial sustainability.
He explained that government will seek parliamentary approval to proceed with the conversion of the GH¢5.8 billion debt as part of broader efforts to restore stability and confidence in the cocoa sector.
The Minister added that the move is expected to ease the financial burden on COCOBOD, restore positive equity and strengthen confidence among both local and international stakeholders, thereby supporting the Board’s operations.
In a related development, Dr Ato Forson disclosed that Cabinet has directed the immediate transfer of GH¢4.35 billion in cocoa road liabilities from COCOBOD to the Ministry of Roads and Highways and the Ministry of Finance, a step intended to relieve the cocoa regulator of non-core financial obligations.
COMMENTS