COCOBOD CEO Raises Alarm Over $31 Billion Road Debt, Urges Responsible Infrastructure Spending and Support for Cocoa Farmers
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The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Randy Abbey, has raised serious concerns about the organisation’s financial standing and the poor state of road infrastructure in cocoa-producing communities across the country.
Speaking during a working tour of the Ahafo Region, Dr. Abbey revealed that COCOBOD is currently saddled with a staggering $31 billion debt owed to road contractors—an amount he described as deeply troubling. He attributed the situation to the awarding of contracts without adequate financial due diligence, noting that certificates valued at $4.4 billion have already been raised by contractors.
“Why should we continue awarding contracts when COCOBOD doesn’t have the money to pay? That’s not sustainable,” Dr. Abbey said. “COCOBOD’s core responsibility is to enhance cocoa production and improve the economic well-being of farmers—not to become a road-building agency.”
He explained that many of these contracts were signed in 2019 and pegged in U.S. dollars, which has worsened the debt burden due to currency depreciation. To address the issue, a joint committee with the Ministry of Roads and Highways has been set up to audit and rationalize all cocoa road projects, prioritizing those that are urgent and financially feasible.
“Moving forward, our strategy will be anchored on transparency, accountability, and financial prudence. It’s time to stop making promises we can’t fund and focus on what’s realistic and impactful,” he added.
Cocoa Farmers Call for Clinics and Fair Compensation
During his visit, Dr. Abbey also acknowledged the growing demand for cocoa clinics in farming communities. He assured farmers that while COCOBOD is in support of the idea, current financial constraints make it difficult to fund new health infrastructure. He appealed for patience as efforts continue to source funding to address healthcare needs in cocoa-growing areas.
Farmers’ Pension and Participation
Dr. Abbey addressed delays in rolling out the cocoa farmers’ pension scheme, stressing that for the policy to succeed, both COCOBOD and farmers must contribute to the fund.
“There must be shared responsibility. The system won’t work unless both the employer and the employee are committed,” he stated.
He also praised the growing involvement of women in cocoa farming and encouraged equitable household financial management of cocoa income, adding that President John Dramani Mahama has pledged a price increase for the upcoming 2025/2026 crop season, expected to begin in August.
Farmers’ Demands: Prices, Inputs & Compensation
Cocoa farmers in Ahafo used the engagement to outline pressing concerns, including:
Improved producer prices, citing better rates in Ivory Coast as a source of discontent.
Access to affordable and quality cocoa inputs, such as fertilizers and agrochemicals.
Incentives to attract youth into cocoa farming amid an aging farmer population.
Farmers also raised issues about unfair land compensation by mining companies like Newmont. They argue that current compensation structures fail to account for the long-term value of cocoa trees, which can remain productive for up to a century.
They are calling on COCOBOD, the Lands Commission, and relevant authorities to urgently review compensation policies and ensure more direct engagement with affected communities.
Dr. Abbey’s regional tour is part of a broader national strategy to restore transparency, financial discipline, and farmer-focused development within Ghana’s cocoa industry.
