President John Dramani Mahama has called an emergency Cabinet meeting for tomorrow, Wednesday, February 11, 2026, to tackle the growing crisis engulfing Ghana’s cocoa sector.
The announcement was made today by the Minister of State in charge of Government Communications, Felix Kwakye Ofosu, via social media.
The high-level session comes amid unprecedented financial and operational pressures on the Ghana Cocoa Board (COCOBOD), following weeks of mounting concern from farmers, industry stakeholders, and the Parliamentary Minority.
The cocoa industry, a cornerstone of Ghana’s agricultural economy, is currently facing a severe debt and liquidity crisis. Recent reports indicate that COCOBOD is contending with a debt burden estimated at GH¢32.91 billion.
Central to the turmoil is the inability of Licensed Buying Companies (LBCs) to pay farmers for beans already delivered. The Minority Caucus in Parliament has alleged that COCOBOD owes LBCs over GH¢10 billion, leaving purchasing clerks at the local level under immense strain.
Compounding the crisis, international buyers are reportedly avoiding Ghanaian cocoa. While global prices remain high, COCOBOD Chief Executive Dr. Randy Abbey revealed that about 50,000 metric tonnes of cocoa remain unsold at the ports.
He attributed the situation to Ghana’s non-competitive farmgate price and high production costs, estimated at roughly $6,300 per tonne, making the beans too expensive for some traditional buyers.
The sector is also dealing with the fallout from the 2023/24 season, when COCOBOD defaulted on forward sales contracts, failing to deliver over 330,000 tonnes of cocoa. The default is said to have cost nearly $1 billion in potential revenue due to the surge in global prices at the time.
Tomorrow’s emergency Cabinet meeting is expected to focus on immediate liquidity support to clear the whilst reviewing of financing models such as the shift from the traditional syndicated loan.
