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0 The Sagnarigu MP, Atta Issah, has disclosed that the government intends to mobilise approximately GH₵30 billion through a syndicated domestic bond to stabilise the operations of the Ghana Cocoa Board (COCOBOD).
The move comes amid mounting concerns about the cocoa regulator’s financial health and its urgent need for substantial working capital.
The issue was first highlighted at a press conference on Thursday, February 19, 2026, where the Chairman of the Finance Committee and MP for Bolgatanga Central, Isaac Adongo, stated that COCOBOD requires more than GH₵30 billion to remain operational.
“The scale of COCOBOD’s working capital requirement is significant, and decisive action is needed to keep the institution afloat,” he indicated.
Mr Issah explained that the government would shift its focus from the international financial market, which he described as currently unfavourable to Ghana, and instead raise funds domestically.
“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 said.
He noted that similar financing models have been successfully implemented in countries such as Côte d’Ivoire, Ecuador, Brazil, and Nigeria.
According to him, Ghana’s ongoing debt restructuring programme has strengthened the country’s balance sheet and is restoring investor confidence.
“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,” Mr Issah stated.
The lawmaker expressed optimism that the bond issuance would not only secure the needed working capital for COCOBOD but also create a pathway for reforms within the cocoa sector.
“With these reforms and the necessary liquidity, COCOBOD will be better positioned to sustain operations and make the industry more sustainable,” he added in an interview with Citi FM on Thursday, February 19.
