The National Chairman of the National Democratic Congress (NDC), Johnson Asiedu Nketia, has blamed the ongoing crisis in Ghana’s cocoa sector on financial mismanagement under the previous administration.
Speaking during his “Thank You” tour in the Upper Denkyira West Constituency of the Central Region, Asiedu Nketia told party supporters and traditional leaders that although the former government secured a loan to purchase 800,000 tonnes of cocoa for the 2023/2024 crop season, it procured just over 400,000 tonnes while using the full loan amount.
“When it was time to repay the loan they took for cocoa, they didn’t purchase the required quantity to settle the banks. They later requested the repayment be rescheduled to 2025,” he said.
He further alleged that the previous administration relied on cocoa bonds to raise additional funds from domestic banks but failed to meet repayment obligations.
“They used the same cocoa bond to collect large sums from domestic banks. Following the haircut, the government announced it could not pay back the banks. When we took over and conducted our audit, we realised the extent of the mess left behind,” he added.
Asiedu Nketia also criticised procurement decisions that worsened the situation, including the importation of large quantities of jute sacks for cocoa packaging.
“As if that wasn’t enough, the sacks for packing cocoa were imported. They used this as a way to make money and awarded numerous contracts to their members. When we came in, we discovered they had imported enough sacks to last for 10 years. Even now, COCOBOD has many sacks at the port that cannot be cleared,” he said.
Despite the sector’s challenges, Asiedu Nketia assured that the NDC government is implementing measures to stabilise cocoa production and restore confidence in cocoa financing.
“We are putting in place measures to clean up the system and ensure transparency and sustainability in cocoa financing going forward,” he stated.
Meanwhile, the Nifahene of New Obuasi, Nana Kofi Arkoh, appealed to the NDC Chairman to draw government attention to the stalled Ayanfuri–Dunkwa road project.
“We believe you are a man of your word. We are pleading with you to help ensure that work resumes on the Ayanfuri–Dunkwa road to ease the burden on our people,” the chief urged.
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