Chairperson of the Ghana Cocoa Board, Randy Abbey, has revealed that the current administration inherited an institution on the brink of collapse, riddled with debt, reckless contracts, and financially questionable decisions that continue to haunt the sector.

Speaking in an interview with Keminni Amanor on Hot Issues on 3News monitored by MyNewsGH, Abbey stated bluntly: "We inherited a Cocoa Board that could be described as insolvent.

A company that owes almost GH₵33 billion, some of these debts dating back four, three, or two years." Abbey disclosed that the Cocoa Board had committed to road contracts worth GH₵21 billion, an amount he described as unrealistic given the company's financial capacity. "There's no way you'll be able to afford to spend GH₵21 billion on roads in the next five or even ten years," he lamented.

He also raised red flags about the practice of signing road contracts in US dollars with Ghanaian contractors, starting from 2019, further deepening the financial crisis. "It's been terrible.