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COCOBOD CEO Dr. Randy Abbey has addressed the mounting concerns of the nation’s cocoa farmers, promising an end to the current liquidity crisis
while unveiling a radical "funding reset" for the 2026/27 season. Speaking at a press briefing in Accra on Friday, February 6, 2026, Dr. Abbey apologized for the delays and confirmed that COCOBOD is working with the Ministry of Finance to clear over GH¢10 billion in arrears.
The briefing follows threats of nationwide demonstrations by farmers and sharp criticism from the Minority Caucus in Parliament regarding unpaid beans supplied since November 2025.
The Debt and Liquidity Gap
Dr. Abbey revealed that COCOBOD is navigating a complex financial environment caused by the collapse of the traditional 32-year-old syndicated loan model.
Market Price Mismatch: COCOBOD pays Ghanaian farmers over $5,000 per tonne, despite the international market currently trading at just over $4,200 per tonne.
The Arrears: The Minority in Parliament estimates that GH¢10 billion is owed to farmers and Licensed Buying Companies (LBCs).
Repayment Progress: COCOBOD has already disbursed GH¢17 billion between November 2025 and January 2026, with an additional GH¢620 million paid so far in February.
Debt Rationalization: Under the Domestic Debt Exchange Programme (DDEP), COCOBOD successfully reduced its historical "cocoa road" debt from GH¢26 billion to GH¢4.5 billion.
Breaking the "Collateral" Chain
The most significant announcement was the exploration of a new funding model slated for the 2026/27 season. Dr. Abbey emphasized that the board would no longer accept financing that "ties their hands" by collateralizing raw cocoa beans.
"Any financing structure that limits the Board’s ability to prioritise value addition will not be considered. We want a structure that facilitates local processing." — Dr. Randy Abbey
Addressing Operational Rumors
Dr. Abbey directly addressed allegations that management was prioritizing luxury over farmers.
Official Vehicles: He clarified that the 20 pickup vehicles purchased were funded by Internally Generated Funds (IGF) from the sale of cocoa sample residues, not farmer payments.
Lead by Example: He noted that upon assuming office in January 2025, he used his personal vehicle for months to ensure operational funds were focused on field duties and the "cocoa road" rationalization.
The Bottom Line
While Dr. Randy Abbey navigates a GH¢10 billion liquidity crunch, his primary mission is a long-term "Value-Addition Pivot"—moving COCOBOD away from raw bean exports to ensure Ghana captures the higher margins of the global chocolate industry.
