The Ghanaian government is planning to raise a significant sum of money domestically to support its vital cocoa sector, according to a report from February 20, 2026.
The government is planning to raise approximately GH₵30 billion through a syndicated domestic bond to bolster the operations of the Ghana Cocoa Board (COCOBOD). This was disclosed by Atta Issah, a member of Parliament's Finance Committee.
Speaking on Thursday, February 19, Mr. Issah explained to Citi News that the funds are intended to strengthen COCOBOD's working capital and bring stability to the cocoa sector. He framed the move as part of a broader government strategy to reduce Ghana's reliance on international borrowing, which he characterized as often being unfavorable.
"The government is also of the view that we cannot continue to rely on the international market, which is often not favourable to Ghana," Mr. Issah stated. He added that the government would provide guarantees for the bond, noting that such domestic syndication is a standard practice, even in neighboring Côte d'Ivoire.
In a related development underscoring the push for reform, the Board of Directors of COCOBOD has announced it will forgo all sitting allowances for the remainder of the 2025/26 cocoa season.
In a public notice, the Board stated that this decision is part of efforts to reform Ghana's cocoa industry and strengthen its long-term sustainability. The move reflects the Board's commitment to "prudent financial management, shared sacrifice, and responsible leadership" as COCOBOD undertakes critical reforms to address recent challenges in the sector. The Board reaffirmed its dedication to enhancing efficiency, promoting accountability, and safeguarding the livelihoods of Ghanaian cocoa farmers.
