The government took over a cocoa sector with huge debts of GH¢32 billion, according to the Minister of Finance, Dr Cassiel Ato Forson.
Presenting the Mid-Year Budget on Thursday, July 24, 2025, in Parliament, he said the cocoa industry was in very bad shape and this affected farmers and the future of the sector.
He blamed the problem on poor management, too much borrowing, and wasteful spending by COCOBOD.
This led to delays in paying farmers and contractors, and little investment in cocoa projects.
Dr Forson said the government is now taking steps to fix things and these include checking COCOBOD’s finances, reducing the debt, and making new policies to help farmers and make the system more transparent.
He said the Mahama government is working hard to bring the cocoa sector back on track because it is important for the economy and for many people who depend on it.
DR/AE
How Virtual Reality is enhancing business and customer experience
