Dr Randy Abbey, the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), has firmly dismissed calls by the Minority caucus in Parliament urging his removal from office amid rising tensions in the cocoa sector. His response comes after opposition lawmakers criticised recent decisions affecting cocoa pricing and broader sector reforms, insisting that these policies could harm farmers and the industry.
The Minority in Parliament has been pressing for President John Dramani Mahama to sack Dr Abbey, arguing that the recent reduction in the cocoa producer price has placed an unfair burden on growers. Lawmakers say the approximately 28.6 percent cut in the producer price could negatively affect the livelihoods of more than a million cocoa farmers and their families, prompting heightened frustration and calls for accountability.
In response to the criticism, Dr Abbey defended his leadership and traced much of the sector’s challenges to legacy issues inherited from previous financing models and external pressures, rather than decisions that originated under his tenure. He noted that the current financing arrangement used to fund cocoa purchases was not developed by his administration, but inherited, and that the longstanding syndicated loan model that supported the industry for decades collapsed before his appointment.
Dr Abbey explained that after inheriting an unsustainable model for funding cocoa purchases, his team recognised the need for a new, sustainable strategy to ensure the sector’s long-term viability. He reaffirmed that ongoing reforms are focused on stabilising cocoa financing, addressing liquidity challenges, and protecting the future of the industry rather than punishing farmers or mismanaging the system.
The broader dispute highlights deep tensions within Ghana’s cocoa industry, which is critical to the country’s economy as a major export and source of employment. Lawmakers and stakeholders continue to debate the best approaches to ensure both fair compensation for farmers and financial sustainability for COCOBOD, as global market conditions and internal financing pressures shape policy decisions
