COCOBOD assures farmers of prompt payment reforms
GHANA – The Ghana Cocoa Board (COCOBOD) has assured cocoa farmers that payments for their produce will remain a top priority.
COCOBOD’s newly appointed Chief Executive Officer, Dr. Ransford Anertey Abbey, emphasized during his first engagement with cocoa farmers that prompt payment would supersede all other financial commitments.
“We’ll prioritize payments for cocoa over other payments,” Dr. Abbey noted, adding that COCOBOD remains committed to maintaining transparency with farmers.
This assurance comes when concerns are heightened over funding, as the board did not access the traditional syndicated loans for the first time.
Dr. Abbey acknowledged the cocoa industry’s challenges, including declining production, ageing farms and smuggling. He revealed that the board is intensifying efforts to rehabilitate ageing and diseased farms to boost productivity.
“We need to fully understand what is going on and work with farmers to intensify rehabilitation efforts,” he explained.
COCOBOD is exploring the promotion of large-scale farming to complement contributions from smallholder farmers who have traditionally driven the sector.
Dr. Abbey, drawing comparisons with Côte d’Ivoire and South American countries, highlighted the potential of large-scale cocoa farming to augment national production.
“We need to seriously look at how we can incentivize people to collaborate with us and get into large-scale cocoa farming,” he remarked.
He said this approach will bolster the industry while continuing to support small-scale farmers who have significantly contributed to Ghana’s cocoa legacy.
Regarding cocoa smuggling, which has plagued the industry recently, Dr. Abbey disclosed that COCOBOD is collaborating with the National Security apparatus to tackle the problem.
“We’ve had a series of meetings, and the National Security team has prioritized this issue,” he stated. A strategy is being crafted to address smuggling, exacerbated by price disparities between Ghana and neighbouring countries.
Dr. Ransford Anertey Abbey replaces Joseph Boahen Aidoo, who resigned following a government directive to abolish the boards of State-Owned Enterprises (SOEs).
In his resignation letter addressed to President John Dramani Mahama, Aidoo expressed gratitude for the trust placed in him by former President Nana Addo Dankwa Akufo-Addo, the New Patriotic Party (NPP) government, and Ghanaians during his eight-year tenure.
He described his leadership role as an “incredible honour” and cited the government directive as the primary reason for his decision to step down.
Although former President Akufo-Addo renewed his appointment under the COCOBOD Law, 1984 (PNDCL 81), which was set to expire in July 2025, Aidoo explained that his resignation would facilitate a smooth transition and enable stakeholders and business partners to establish timely connections with the incoming leadership.
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