Finance Minister Assumes Supervisory Role Over COCOBOD Amid GH¢32 Billion Debt
Accra, Ghana – March 12, 2025 – The Minister of Finance, Dr. Cassiel Ato Forson, has confirmed that he is now overseeing the operations of the Ghana Cocoa Board (COCOBOD), though the responsibility for settling the agency’s GH¢32 billion debt remains with its Chief Executive Officer, Randy Abbey.
Speaking on The Point of View on Channel One TV, Dr. Forson clarified his role, stating:
🗣️ “I am their supervisor, but that doesn’t mean I should pay their debt. Randy Abbey must find the money and pay, and that is what, unfortunately, the former administration left for him.”
COCOBOD’s Financial Woes
COCOBOD, which regulates Ghana’s cocoa sector, has faced mounting financial difficulties, raising concerns about the sustainability of the cocoa industry and the government’s support.
Despite its challenges, the board plays a crucial role in:
✔️ Setting producer prices for cocoa farmers
✔️ Overseeing production, processing, and marketing
✔️ Maintaining Ghana’s reputation for premium-quality cocoa
Employment Policy Concerns
Beyond COCOBOD’s debt crisis, Dr. Forson also addressed speculation regarding a freeze on public sector employment, dismissing such claims as inaccurate.
The government remains committed to balancing fiscal responsibility while ensuring job opportunities within the public sector.
Please download our HOTDIGITAL ONLINE APP and follow HotDigital Online on our social media platforms to stay updated on our upcoming initiatives.
#COCOBOD #CocoaIndustry #GhanaEconomy #DebtCrisis #HotDigitalOnline #StrongerTogether
