There was no money when I assumed office in 2017 – Cocobod CEO

CEO of the Ghana Cocoa Board, Joseph Boahen Aidoo, has revealed facing significant financial challenges upon assuming office in January 2017.

Despite the previous administration securing $1.8 billion in 2016, there were no funds left when he took charge.

The money had been spent on buying cocoa and operational costs.

Aidoo explained that they had to continue buying cocoa without available funds, forcing them to borrow from the Bank of Ghana.

Ghana's cocoa sector has been affected by adverse weather, bean disease, and illegal mining, leading to lower yields. This has prompted Ghana to seek assistance and delay delivery of cocoa beans, impacting global cocoa prices.