The Ghana Cocoa Board (COCOBOD) requires a staggering GH₵30 billion to maintain its operations, the Parliamentary Majority has revealed, warning that failure to secure the funds could destabilize the country’s cocoa sector.
Speaking in Parliament, the Majority emphasized that the funding is essential for sustaining the board’s core functions, including support for cocoa farmers, payment of premiums, and the smooth running of marketing and export activities.
“The board plays a critical role in Ghana’s economy, and without adequate financial backing, we risk jeopardizing the livelihoods of millions who depend on cocoa production,” a Majority spokesperson noted.
COCOBOD, which oversees one of Ghana’s most important foreign exchange earners, has faced growing financial pressures due to rising costs of inputs, logistics, and global market fluctuations. According to officials, GH₵30 billion would cover operational expenses for the upcoming fiscal year, ensuring that the sector continues to contribute significantly to national revenue and rural employment.
The call for increased funding comes amid heightened scrutiny of cocoa pricing mechanisms and the need for reforms to improve transparency and efficiency within the board. Analysts say timely intervention is crucial to prevent disruption in cocoa production and exports, which could have ripple effects across the Ghanaian economy.
The Parliamentary Majority has urged the government to prioritize COCOBOD’s funding in the national budget, stressing that a financially stable cocoa board is key to sustaining Ghana’s position as a leading cocoa producer globally.
