Ato Forson Denies Public Sector Job Freeze, Confirms COCOBOD’s New Oversight

In a significant shift, Finance Minister Dr. Cassiel Ato Forson has confirmed that the Ghana Cocoa Board (COCOBOD) is now under the supervision of his ministry.

The announcement, made on Channel One TV on March 12, 2025, marks a key development in the government’s management of the country’s cocoa sector.

While Dr. Forson clarified that his ministry will oversee COCOBOD’s operations, he was quick to stress that the responsibility for repaying the board’s substantial debt remains with the Chief Executive Officer, Randy Abbey, and not the Finance Ministry.

Dr. Forson emphasized that his supervisory role does not extend to taking on the financial burden of COCOBOD’s debt, which currently stands at a staggering GH¢32 billion.

“I am their supervisor, but that doesn’t mean I should pay their debt. Randy Abbey must find the money and pay, and that is what, unfortunately, the former administration left for him,” Dr. Forson remarked during the interview.

COCOBOD, established in 1947, is a key player in Ghana’s cocoa industry, overseeing all aspects of cocoa production, processing, and marketing.

The board’s work is vital not only to the livelihoods of the country’s cocoa farmers but also to maintaining Ghana’s position as one of the world’s top producers of high-quality cocoa.

However, the organization has faced increasing financial strain in recent years, with its GH¢32 billion debt raising concerns about the long-term sustainability of the cocoa sector.

Dr. Forson’s comments suggest that while the government is taking steps to improve oversight, the financial challenges within COCOBOD remain a serious issue, one that will require effective management from within the board itself.

Beyond the concerns surrounding COCOBOD’s debt, Dr. Forson also addressed rumors regarding a public sector employment freeze.

He firmly denied these claims, reinforcing the government’s commitment to creating jobs and fostering economic recovery.

The Finance Minister’s remarks come at a crucial time as both the cocoa industry and the broader economy continue to face challenges.

With COCOBOD now under his ministry’s watchful eye, many will be watching closely to see how the government navigates these issues and works towards stabilizing the cocoa sector.