The Member of Parliament for Sagnarigu, Atta Issah, has revealed that the government is preparing to raise about GH₵30 billion through a syndicated domestic bond to stabilise the finances of the Ghana Cocoa Board (COCOBOD).
The proposed intervention comes amid growing concern over the cocoa regulator’s financial position and its urgent need for working capital to sustain operations.
The matter was highlighted during a press conference on Thursday, February 19, 2026. At the briefing, the Chairman of Parliament’s Finance Committee and MP for Bolgatanga Central, Isaac Adongo, emphasised the scale of the challenge, noting that COCOBOD requires more than GH₵30 billion to function effectively.
“The scale of COCOBOD’s working capital requirement is significant, and decisive action is needed to keep the institution afloat,” he said in an interview with Accra-based Citi FM.
Expanding on the government’s response, Mr Issah said authorities have opted to look inward for funding rather than rely on external markets, which he described as currently unfavourable to Ghana.
“We are pivoting away from the international market because conditions are not favourable. The alternative is to issue a syndicated domestic bond backed by government guarantees,” he explained.
He noted that the strategy is not unprecedented, citing countries such as Côte d’Ivoire, Ecuador, Brazil, and Nigeria, where similar financing arrangements have been deployed to support key sectors.
Mr Issah further argued that Ghana’s ongoing debt restructuring efforts have improved the country’s financial outlook and bolstered confidence among domestic investors.
“Recent treasury bill issuances were oversubscribed because investors view government liabilities as largely risk-free. If we structure this well, we can raise more than the GH₵30 billion required,” he stated.
The Sagnarigu legislator expressed confidence that the planned bond issuance would provide the liquidity COCOBOD needs while also opening the door for structural reforms in the cocoa industry.
“With these reforms and the necessary liquidity, COCOBOD will be better positioned to sustain operations and make the industry more sustainable,” he added.
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