The Minister for Finance, Dr Cassiel Ato Forson, has confirmed that his ministry has assumed a supervisory role over the Ghana Cocoa Board (COCOBOD).
However, he emphasised that the board’s financial obligations remain the responsibility of its Chief Executive Officer, Randy Abbey.
Speaking on Channel One TV on Wednesday, 12th March, Dr Forson clarified that while he provides oversight for COCOBOD’s operations, the burden of repaying its substantial debts does not fall on the Finance Ministry.
“I am their supervisor, but that doesn’t mean I should pay their debt. Randy Abbey must find the money and pay, and that is what, unfortunately, the former administration left for him,” he stated.
COCOBOD, which was established in 1947, plays a crucial role in the country’s cocoa sector, overseeing production, processing, and marketing.
The board also sets producer prices to ensure stable and fair incomes for cocoa farmers while maintaining Ghana’s global reputation for high-quality cocoa.
However, the organisation is currently struggling under a GH¢32 billion debt, raising concerns about the sustainability of the cocoa industry and the government’s role in addressing these challenges.
Beyond COCOBOD’s financial difficulties, Dr Forson also took the opportunity to refute allegations that the government has imposed a freeze on public sector employment.
He dismissed such claims as inaccurate, reaffirming the government’s commitment to job creation and economic recovery.
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