Story perspectives

Ghana Cocoa Board Faces $33 Billion Liabilities Crisis

6/8/2025

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Summary

Story summary

Dr. Randy Abbey, Acting CEO of Ghana Cocoa Board, reveals liabilities nearing $33 billion, indicating severe financial challenges.
He calls for restructuring and reassessment, particularly due to the cedi's depreciation.
COCOBOD owes over $400 million to agrochemical suppliers and has contractors awaiting payment for up to four years.
Abbey points out a contentious $48 million contract for jute sacks awarded in December 2024 amid ongoing debts.
He expresses optimism about achieving financial stability through diligent management.

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Story summary

Dr. Randy Abbey, Acting CEO of Ghana Cocoa Board, reveals liabilities nearing $33 billion, indicating severe financial challenges.
He calls for restructuring and reassessment, particularly due to the cedi's depreciation.
COCOBOD owes over $400 million to agrochemical suppliers and has contractors awaiting payment for up to four years.
Abbey points out a contentious $48 million contract for jute sacks awarded in December 2024 amid ongoing debts.
He expresses optimism about achieving financial stability through diligent management.