Government has directed the Attorney General and Minister for Justice, Dr. Dominic Ayine, to commence a comprehensive forensic and criminal investigation into the activities of the Ghana Cocoa Board (COCOBOD) covering the past eight years. The move is aimed at ensuring full accountability and transparency in the management of the country’s cocoa sector.
The directive was announced by Finance Minister Dr. Cassiel Ato Forson after a high-level Cabinet meeting convened to assess the current financial state of COCOBOD and the broader challenges confronting the cocoa industry.
According to the Minister, the forensic audit will thoroughly examine the Board’s financial commitments, contracts, borrowing arrangements and operational decisions within the specified period. The findings are expected to guide possible corrective actions and restore public confidence in the institution.
Beyond the forensic audit, Cabinet has approved a set of key structural reform measures designed to stabilise COCOBOD’s finances and reposition the sector for long-term sustainability.
These reforms include strengthening internal financial controls, reviewing cost structures, improving operational efficiency and enhancing oversight mechanisms to prevent future irregularities.
As part of the broader intervention, government also announced a revised farm gate price for cocoa following a review by the Producer Price Review Committee. Finance Minister Dr. Cassiel Ato Forson stated that the new price has been set at 41,392 Ghana cedis per metric ton, equivalent to 2,587 Ghana cedis per 64 kilogram bag, with immediate effect.
The new rate replaces the 58,000 Ghana cedis per metric ton announced in October 2025, representing a reduction of 16,608 Ghana cedis per ton and 1,038 Ghana cedis per bag. The adjustment follows a significant decline in world cocoa prices, which have dropped to approximately 4,100 United States dollars per metric ton from an earlier average of about 7,200 United States dollars.
Government explained that the revision was necessary to reflect current global market realities while safeguarding the long-term sustainability of the cocoa sector. Authorities maintain that despite the reduction, measures are being implemented to protect farmers’ incomes, sustain production levels and preserve Ghana’s competitiveness as one of the world’s leading cocoa producers.
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