Government has launched a criminal investigation into the operations of the Ghana Cocoa Board (COCOBOD) covering the last eight years, following a directive from Cabinet, Finance Minister Dr. Cassiel Ato Forson has disclosed.
According to Dr. Forson, the decision was taken after preliminary assessments raised concerns about financial management, contractual arrangements and operational decisions within the cocoa sector regulator during the period under review.
Addressing the media, the Finance Minister said Cabinet had resolved that a full-scale criminal probe was necessary to establish accountability and determine whether any wrongdoing had occurred in the management of COCOBOD’s affairs.
“The directive from Cabinet is clear. There will be a thorough criminal investigation into COCOBOD’s activities over the past eight years to ensure transparency and accountability,” Dr. Forson stated.
The announcement comes amid heightened scrutiny of the cocoa sector, particularly following reports of financial losses, pricing gaps and mounting debt obligations linked to forward sales contracts and procurement processes.
Government officials say the investigation will examine key financial transactions, syndicated loan agreements, procurement decisions and other major contracts executed within the period. Authorities are expected to work closely with relevant investigative bodies to ensure due process.
Dr. Forson stressed that the move is not politically motivated but aimed at safeguarding public funds and restoring confidence in the cocoa industry, which remains a major foreign exchange earner for Ghana.
He further indicated that the probe forms part of broader reforms to strengthen governance, enhance transparency and improve operational efficiency at COCOBOD.
Industry observers note that the outcome of the investigation could have significant implications for the cocoa sector and public financial management. Some analysts argue that restoring trust in COCOBOD’s operations is critical to stabilising the industry and protecting farmers’ livelihoods.
Government has assured stakeholders, including cocoa farmers and licensed buying companies, that ongoing operations will not be disrupted by the investigation.
The Finance Minister reiterated that accountability and prudent financial management remain central to government’s economic recovery agenda, adding that any individuals found culpable would be dealt with in accordance with the law.
