The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Randy Abbey, has disclosed that the ongoing Cocoa Roads projects have been suspended due to the Board’s inability to settle outstanding debts owed to contractors.
Addressing cocoa farmers at a stakeholder engagement in Bechem in the Ahafo Region, Dr. Abbey revealed that COCOBOD owes contractors a staggering GH¢4 billion for completed road works.
He attributed the situation to contracts totaling GH¢2 billion signed under the previous administration, which have now placed an unsustainable financial burden on the Board.
“There is currently no money available to pay contractors, let alone initiate new road project.
“We are in discussions with the Ministry of Roads and Highways to find practical ways of clearing this debt,” Dr Abbey stated.
He urged cocoa farmers to be patient with the government, noting that the cocoa sector is going through a critical phase and requires the collective support of all stakeholders to rebound.
“The cocoa industry is facing serious challenges, and only our hardworking farmers can help revive it,” he emphasised. “Your support is crucial in restoring confidence and productivity in the sector.”
Despite the financial difficulties, Dr. Abbey assured farmers of better prospects ahead.
He announced that the 2025/2026 cocoa season will be opened in August this year, with a new producer price that is expected to surpass that of neighbouring Ivory Coast.
The engagement in Bechem is part of Dr. Abbey’s broader efforts to interact with cocoa farmers across the country, gather feedback, and strengthen partnerships aimed at revitalising Ghana’s cocoa sector.
