Government has launched GH¢855 million to settle arrears owed to cocoa farmers after a chronic cost disaster that left many manufacturers unpaid for months, regardless of turning in their produce to approved purchasing corporations.

The cost is a part of an emergency intervention to stabilise the cocoa profit and repair self assurance amongst farmers and purchasing corporations.

In the wake of the disaster, the federal government has additionally introduced a huge package deal of reforms aimed toward restructuring the success and hanging the Ghana Cocoa Board (COCOBOD) on a extra sustainable monetary footing.

These reforms come with a arguable aid of greater than GH¢1,000 within the manufacturer value consistent with bag, a transfer that has sparked debate around the profit.

Speaking to newshounds in Parliament of Ghana, Chairman of the Finance Committee, Isaac Adongo, defended the measures, describing them as tricky however essential steps to rescue a profit he stated has been below serious monetary pressure for years.

“The bottom line of all that has happened is that some amounts were owed to cocoa farmers, and the government took a decision to repay those monies so that the cocoa buying companies can settle the outstanding obligations,” he stated.

“I’m glad to document that this morning, the federal government has launched 855 million cedis for that goal. But we’ve got additionally determined to introduce a variety of reforms which can be lengthy late.

“The cocoa profit has been below huge pressure over time, and we’ve got been pretending to carrier cocoa farmers whilst destroying the very car we use to give a boost to them.”

The Majority in Parliament additionally blamed the disaster at the earlier New Patriotic Party (NPP) coordination, rejecting claims that accountability lies with the present executive. According to Mr Adongo, COCOBOD entered 2025 closely indebted and financially distressed.

“COCOBOD entered 2025 with about GH¢17.8 billion in loans, plus significant operational liabilities. When you add everything together, the exposure was over GH¢60 billion. That vehicle could not be sustainable and had to be addressed,” he stated.
“You have 60 billion of somebody’s money—it’s not free money. You are not paying, and yet you are saying we should continue to go and borrow more.”

Government maintains that the discharge of budget to farmers, coupled with structural reforms in pricing, financing and operations, is meant to stabilise the profit, give protection to farmers in the longer term, and rebuild COCOBOD right into a financially viable establishment in a position to maintaining Ghana’s cocoa financial environment.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by means of Readers and Contributors in this platform don’t essentially constitute the perspectives or coverage of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by means of Readers and Contributors in this platform don’t essentially constitute the perspectives or coverage of Multimedia Group Limited.