The government has begun the process to shift the oversight of the Ghana Cocoa Board (COCOBOD) from the Ministry of Food and Agriculture (MoFA) to the Ministry of Finance (MoF).
This landmark move is aimed at strengthening fiscal discipline, improving accountability, and ensuring better management of the financial risks associated with the cocoa sector, one of Ghana’s most important export industries.
COCOBOD has operated under the Ministry of Food and Agriculture for decades, overseeing cocoa production, pricing, export policies, and sector development programs. In recent years, however, the sector has faced mounting fiscal pressures.
The 2025 Budget highlighted a series of challenges, including declining output, weak finances, elevated debt, large volumes of low-priced rollover contracts, smuggling, and high quasi-fiscal costs, particularly related to cocoa roads, which together accounted for nearly 67 percent of COCOBOD’s debt.
To address these challenges, the government has undertaken a series of interventions. Production has begun to recover, rising from 530,783 metric tonnes in 2023/2024 to 603,840 metric tonnes by the end of 2024/2025, supported by targeted anti-smuggling measures and incentives for farmers.
For 2025/2026, production is projected at 650,000 metric tonnes, backed by GH¢2.4 billion for mass spraying under CODAPEC and GH¢2.7 billion for free fertilizer distribution. The cocoa farm-gate price was also raised from GH¢49,600/MT to GH¢58,000/MT. This raise, according to the government, was to curb smuggling and narrow cross-border price gaps.
According to Finance Minister Ato Forson, the sector’s debt position has significantly improved. COCOBOD’s outstanding debt fell from GH¢32.0 billion in March 2025 to GH¢20.6 billion in September 2025, including payments of US$130 million and GH¢3.6 billion. Meanwhile, cocoa roads debt was reduced from GH¢21.0 billion to GH¢6.9 billion following rationalisation measures. These developments, he said, underscore the need for stronger oversight and fiscal management.
The proposed legislative amendments to the COCOBOD Act, 1984 (PNDCL 81) will formally transfer oversight responsibilities to the Ministry of Finance. The government argues that this shift will not only consolidate the recent gains in debt reduction but also ensure sustainable fiscal governance, greater transparency, and improved accountability in the management of Ghana’s cocoa sector.
