The Majority in Parliament has sounded the alarm over the precarious finances of the Ghana Cocoa Board (COCOBOD), cautioning that the state agency needs a significant injection of working capital to sustain its operations.

Addressing journalists, the Member of Parliament for Bolgatanga Central, Isaac Adongo, disclosed that a sizeable shortfall has been identified in the Board’s books, raising questions about its liquidity position.

In a related development, COCOBOD announced internal cost-cutting measures expected to reduce expenditure by about GH¢5 million each month.

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The austerity steps include a 20 per cent reduction in the remuneration of executive management and a 10 per cent cut for senior staff.

The adjustments, which have already taken effect, will run through the remainder of the 2025/2026 cocoa season.

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