Education Minister Haruna Iddrisu has sounded the alarm over the financial struggles of the Ghana Cocoa Board (COCOBOD), questioning how an institution that once served as the backbone of the nation’s economy has now found itself in deep debt.
His remarks, made during an appearance on Joy FM’s Super Morning Show, highlight growing concerns over the sustainability of Ghana’s cocoa industry and the broader implications for the economy.
“How is it that the Cocoa Board, once the backbone of our economy, is now struggling?” Iddrisu questioned.
He pointed out that the 2025 Budget, presented by Finance Minister Dr. Cassiel Ato Forson, failed to fully capture the extent of the crisis facing COCOBOD, stressing that “the situation is far more complex than what the budget may suggest.”
Ghana’s cocoa industry has historically been a major source of foreign exchange and employment, but in recent years, COCOBOD has faced mounting debts, falling production levels, and accusations of financial mismanagement.
The minister emphasized that a struggling cocoa sector does not bode well for the economy, as it threatens the livelihoods of thousands of farmers and reduces the country’s revenue.
Iddrisu further noted that “growth alone is not enough,” arguing that economic progress must be reflected in the daily realities of Ghanaians.
He urged policymakers to take decisive action to revive COCOBOD, restore confidence in the sector, and ensure that cocoa farmers benefit from their hard work.
