TEMA, Ghana, 14 February: Secretary General of the Ghana Federation of Labour (GFL), Abraham Koomson, has criticised the New Patriotic Party (NPP) over what he describes as attempts to politicise the challenges facing Ghana’s cocoa sector.
According to him, it is unfair for the NPP to use the current difficulties within the sector to mount pressure on the government when, in his view, the problems originated under the previous administration before it left office.
The Ghana Cocoa Board (COCOBOD) is currently facing what analysts have described as its most precarious financial situation in nearly 80 years, with total debts estimated at GH¢32.91 billion. The situation has sparked intense public debate over accountability, with allegations of financial mismanagement directed at officials who oversaw the sector in recent years.
As of February 2026, COCOBOD is reportedly grappling with negative equity – where liabilities exceed assets – of about GH¢3.8 billion. The crisis has also been compounded by the inability to meet forward contract obligations, resulting in losses exceeding $1 billion.
Reacting to Cabinet’s directive ordering a forensic audit into COCOBOD’s operations between 2017 and 2024, announced by government, Mr. Koomson speaking on Ahotor FM’s Yepe Ahunu show on Saturday 14 February welcomed the move, describing it as necessary to ensure accountability.
However, he argued that such action should have been taken earlier to identify and prosecute those responsible.
He also expressed support for government measures aimed at stabilising the sector, including the recently announced 28.6 percent reduction in the producer price of cocoa to help manage the financial strain. Additionally, he noted that the proposal to adopt a more sustainable financing model – moving away from the traditional syndicated loan arrangements – was a step in the right direction.
Mr. Koomson stressed that he would not blame the current administration for the cocoa sector crisis, insisting that the difficulties were inherited. He maintained, however, that the government’s only shortcoming was the delay in holding alleged perpetrators accountable, a situation he believes has allowed some individuals to continue publicly criticising and exerting pressure on the authorities.
He emphasised that decisive action and transparency would be crucial in restoring confidence in the cocoa sector, which remains a key pillar of Ghana’s economy.
LISTEN TO ABRAHAM KOOMSON IN THE AUDIO BELOW:
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/Ahotoronline.com | Ghana 🇬🇭