CEO of COCOBOD Dr Randy Abbey Defends Suspension of Cocoa Roads Projects, Assures Farmers of Sector’s Future
The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Ransford Abbey, has reassured cocoa farmers that despite operational and financial challenges, Ghana’s cocoa sector remains viable. He made this statement during a meeting with 2025 National Award-winning cocoa and coffee farmers and executives of the Ghana Cocoa, Coffee and Sheanut Farmers Association (COCOSHE) in Accra on Friday, December 19, 2025.
Dr. Abbey explained that COCOBOD’s decision to suspend cocoa road projects nationwide was necessary to stabilise the Board’s finances. He revealed that COCOBOD is saddled with road contracts valued at about GH₵26 billion, many of which were awarded without approved budgetary allocations.
“Between 2018 and 2019, no allocation was made by the Public Procurement Regulatory Commission (PPRC) for cocoa roads, yet contracts worth GH₵220 million and US$99 million were awarded,” he said. The situation worsened between 2019 and 2020, with additional contracts valued at GH₵231 million and US$1.157 billion approved without funding.
Dr. Abbey noted that the accumulation of unfunded contracts has severely strained COCOBOD’s finances, contributing to rollover losses and a growing debt stock estimated at GH₵33 billion. As a result, the government directed the suspension of further cocoa road projects.
He stressed that cocoa revenues would have been better deployed to directly improve infrastructure in cocoa-growing communities, rather than creating unsustainable liabilities. “In less than three years, road contracts worth about GH₵21.5 billion were awarded. The key question is how these contracts were going to be financed from COCOBOD’s revenue,” Dr. Abbey stated.
The COCOBOD CEO reaffirmed the Board’s commitment to restoring financial stability, prioritising farmer support, and ensuring the long-term sustainability of Ghana’s cocoa sector. He acknowledged concerns raised by farmers regarding production challenges and pledged continued engagement to address them.
Dr. Abbey assured farmers that COCOBOD remains committed to improving their welfare and sustaining Ghana’s reputation as a global producer of premium-quality cocoa. The meeting was seen as an opportunity for COCOBOD to engage with farmers and address pressing issues affecting the sector.
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