News:
February 6, 2026
The Chairman of Parliament’s Economy and Development Committee, Eric Afful, has blamed the previous New Patriotic Party (NPP) administration for Ghana’s current cocoa crisis, citing years of “financial recklessness” at the Ghana Cocoa Board (COCOBOD).
The Amenfi West MP’s statement on Thursday was a direct response to recent criticisms from the Minority, asserting that the NPP has overlooked its own role in destabilizing the sector between 2021 and 2024.
“The NPP is confused and has soon forgotten that the current situation our gallant cocoa farmers are facing was created by its own regime,” Hon. Afful said.
Allegations of Financial Mismanagement
Central to Afful’s allegations is an $800 million syndicated loan secured for the 2023/2024 crop year. He claims the funds, intended for cocoa purchases and delivery, were mismanaged.
Afful disclosed a significant discrepancy: 333,000 metric tonnes of cocoa, paid for from the facility, were never delivered by the season’s end. The corresponding funds, he alleges, are untraceable in COCOBOD’s records.
This failure, he argued, destroyed COCOBOD’s credibility with international lenders, leading to a total lack of seed funding for the 2024/2025 season. The funding vacuum caused the collapse of several Licensed Buying Companies (LBCs), including the state-owned Produce Buying Company (PBC).
“The collapse of these LBCs has brought serious hardship to cocoa farmers, transporters, carriers, and workers across the country,” Afful stated, highlighting the widespread impact on rural economies.
NDC Government’s Recovery Measures
Afful outlined several reforms the current National Democratic Congress (NDC) government has implemented to rescue the sector:
* Reinstated Free Fertilizer: The government has returned to the pre-2017 model of free fertilizer distribution, reversing the NPP’s policy of charging farmers. Afful alleged the previous administration sold bags meant to be free for 80 cedis each.
* Increased Farmer Share: Farmers now receive 70% of the world market price for cocoa, aimed at improving incomes and morale.
* Alternative Financing: With traditional syndicated loans stalled, the Ministry of Finance and Bank of Ghana have established a substitute financing system as of January 2025.
* Clearing the Backlog: The government has begun delivering the 333,000 metric tonnes of cocoa left undelivered by the previous administration.
Addressing the steep production decline—from 967,000 metric tonnes in 2016 to under 400,000 in 2024—Afful said the Cocoa Rehabilitation Programme has been intensified to restore national output.
Dismissal of NPP Criticism
The Committee Chair dismissed the opposition’s criticisms, insisting they lack the moral standing to comment.
“The NPP does not have the moral right to accuse this government. We are solving the problems they created and handed over to us,” he declared. He urged public support for the ongoing reforms to protect livelihoods dependent on the cocoa sector.
Source: Kwaku Sakyi-Danso/Ghanamps.com