Finance Minister To announce new measures to support cocoa sector

A Ghanaian civil society organisation has called on President John Dramani Mahama to remove the Chief Executive Officer of the Ghana Cocoa Board, Dr. Ransford Abbey, over claims of poor management and ineffective leadership.

The petition, dated February 9 and submitted through the Office of the Chief of Staff, was filed by the Good Governance Advocacy Group Ghana. The group says it is acting on behalf of dissatisfied cocoa farmers nationwide.

In the letter, the organisation accused the COCOBOD boss of weak leadership, financial mismanagement, intimidation, misplaced priorities, and resistance to reforms, although no evidence was provided to support the claims.

The group, however, commended President Mahama for his leadership and handling of the economy, drawing a contrast with what it described as challenges within the cocoa regulator.

COCOBOD oversees the regulation, purchase, and export of cocoa in Ghana — the world’s second-largest producer — and supports the livelihoods of hundreds of thousands of farmers.

The petition comes at a difficult time for the cocoa sector, which is grappling with a funding shortfall that has delayed payments to farmers and licensed buying companies. President Mahama has reportedly scheduled an emergency cabinet meeting to address the situation amid fears of supply chain disruptions.

The Licensed Cocoa Buyers Association has warned that the purchasing system could falter without urgent financing to acquire an estimated 300,000 tonnes of cocoa beans. Authorities are also said to be considering ending the long-standing syndicated loan arrangement used to fund cocoa purchases.

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Meanwhile, some farmers are unhappy with producer prices for the new crop season, arguing that current rates fail to match rising production costs and could fuel cross-border smuggling.

COCOBOD and the Presidency have yet to respond publicly to the petition.

Source: Wesleyannews.com

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