Reckless borrowing and inefficiency under the previous New Patriotic Party (NPP) administration have plunged Ghana’s cocoa sector into its current financial crisis, the governing National Democratic Congress (NDC) has alleged.
The Member of Parliament for Tain and Deputy Ranking Member on the Budget Committee, Sulemana Adama, made the claim on Adekyee Mu Nsem, a morning show on Ahotor FM 92.3 in Accra, hosted by Citizen Kofi Owusu.
According to him, although the current government has begun restructuring the sector with new financial arrangements aligned to world market prices, calls by the Minority for a reversal of the recently reduced producer price are creating confusion among farmers.
He criticised the NPP’s stance, describing it as misleading.
“You can only give what you have,” he said, explaining that the government has developed a roadmap to address what he described as a long-standing systemic problem in the cocoa sector.
Politically, the National Chairman of the National Democratic Congress (NDC), Johnson Asiedu Nketiah, has also attributed the crisis to financial mismanagement under the previous administration.
Speaking during his “Thank You” tour in the Upper Denkyira West Constituency of the Central Region, he alleged that although the former government secured a loan to purchase 800,000 tonnes of cocoa for the 2023/2024 crop season, it procured slightly over 400,000 tonnes while fully utilising the loan facility.
“When it was time for the government to pay the loan they took for the cocoa, they didn’t get the quantity that was required to pay the banks. They then later pleaded for the loan payment to be rescheduled to 2025,” he stated.
He further claimed that cocoa bonds were used to raise additional funds from domestic banks but repayment obligations were not met, contributing to financial distress within the sector.
Asiedu Nketiah also criticised the importation of large quantities of jute sacks for cocoa packaging, alleging procurement irregularities and over-supply.
“As I speak to you, COCOBOD has lots of sacks at the port that cannot be cleared,” he said.
Despite the challenges, he assured that the NDC government is implementing pragmatic measures to stabilise the sector and restore confidence in cocoa financing.
Meanwhile, the Nifahene of New Obuasi, Nana Kofi Arkoh, appealed for government intervention to resume work on the stalled Ayanfuri–Dunkwa road project.
According to the chief, construction of the road and other projects in the constituency halted after the exit of the Mahama-led administration. He urged authorities to prioritise the project to ease the burden on residents.
In a related development, Minority Leader and Member of Parliament for Effutu, Alexander Afenyo-Markin, has called on the government to immediately settle outstanding payments owed to cocoa farmers.
Speaking at the Thanksgiving Ceremony of the New Patriotic Party (NPP) on Sunday, February 15, 2026, he said farmers are more concerned about receiving their earnings than policy explanations.
His remarks follow the government’s announcement of reforms, including a reduction in the producer price for the remainder of the 2025/2026 crop season.
The new price has been adjusted to GH¢41,392 per tonne (GH¢2,587 per bag), representing 90 per cent of the achieved gross FOB price of $4,200 per tonne. Authorities say the adjustment is intended to cushion farmers against falling global cocoa prices.
However, Afenyo-Markin criticised the decision.
“Cocoa farmers were being paid GH¢3,625 per bag. Today, the NDC government has reduced the price to GH¢2,587,” he stated.
He argued that the issue goes beyond communication.
“The cocoa farmers want their money, so pay them,” he said, warning that the Minority Caucus would escalate the matter in Parliament.
“For us, the Minority, it will be a scene to behold in Parliament. They must pay the cocoa farmers,” he added.