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"The 50% local cocoa processing suggestion by the president will address the problem. Before we left government, we were processing about 42% of cocoa produced, hence adding 8% to make it 50% is insignificant." - Fiifi Boafo, Former Head of Public Affairs, COCOBOD #TV3NewDay

#TV3GH

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22,827 views • 6 months ago •via X (Twitter)

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In the NDC Attempt to spin their way out of the crisis they have plunged the cocoa sector into, they attempted to deflect the conversation and pin it in the previous NPP Government even when it’s an obvious miscalculation on the part of the government. They attempted to use debts at CocoBod as the reason for the current situation. This fight is a fight between NDC Government and Ghanaian cocoa farmers. NPP doesn’t come in at all. But for the purposes of records, let me state these few facts! WHAT NPP INHERITED IN 2017 1. The NDC in 2017, left a Debt of GH19 Billion Cedis at CocoBod which was inherited by the NPP. So if they have a 32Billion debt, it include their accumulated debt they left behind plus interest from 2017. 2. The NDC left a rollover liability of about 190,000 metric tonnes for the NPP to deal with 3. In the 2017/2018 period, Cocoa prices on the international market dropped 4. The NDC introduced Cocoa Roads for the first time at Cocobod and left Huge cocoa road debts by the tome they left office in 2017 5. The NDC contracted $1.8 Billion Syndicated loan in 2016 and squandered all without completing the supply of the cocoa beans. Infact after the NDC lost the 2016 elections, between December 9th - 30th December, they spent $400milliom left from that loan paying off Road contractors when we still had cocoa beans to buy and supply INSPITE OF ALL THE ABOVE LIABILITIES The NPP Government then, never used the debt inherited at Cocobod, the dropped international market price , the rollover cocoa beans inherited as an excuse to reduce farmer price. The Akufo-Addo Government then, maintained the farmer price at GH475 so they don’t inconvenience the farmer. The Nana Akufo-Addo Government paid the penalty of $7.5million dollars on the unfulfilled cocoa supply contract by the NDC and went ahead to fulfil the supply. ANOTHER FACT 1. The NPP on 7th January 2025, left in the CocoBod Account at Ghana International Bank, London, an amount of $500million Dollars, Cash. 2. The NPP Government on 7th January 2025 had already sold and expecting revenue in excess of $1billion Dollars 3. That explains why in the first 4 months of 2025, Cocobod received in their accounts revenue amounting to about $1.8billion Dollars as reported in the budget by Hon. Ato Forson. The fact is that, the current situation is simply a poor trading decision and nothing to do with debts at Cocobod, there has never been a moment in our recent history, Cocobod didn’t hav debt and never did debts at Cocobod lead to such massive haircut on Cocoa farmers price. The earlier this government owns up to this incompetence and finds a solution to it the better. The deflections, the attempt to push and short responsibilities, will not work. The farmers deserve better and must have their price restored without delay #CocoafarmersHaircut

In the NDC Attempt to spin their way out of the crisis they have plunged the cocoa sector into, they attempted to deflect the conversation and pin it in the previous NPP Government even when it’s an obvious miscalculation on the part of the government. They attempted to use debts at CocoBod as the reason for the current situation. This fight is a fight between NDC Government and Ghanaian cocoa farmers. NPP doesn’t come in at all. But for the purposes of records, let me state these few facts! WHAT NPP INHERITED IN 2017 1. The NDC in 2017, left a Debt of GH19 Billion Cedis at CocoBod which was inherited by the NPP. So if they have a 32Billion debt, it include their accumulated debt they left behind plus interest from 2017. 2. The NDC left a rollover liability of about 190,000 metric tonnes for the NPP to deal with 3. In the 2017/2018 period, Cocoa prices on the international market dropped 4. The NDC introduced Cocoa Roads for the first time at Cocobod and left Huge cocoa road debts by the tome they left office in 2017 5. The NDC contracted $1.8 Billion Syndicated loan in 2016 and squandered all without completing the supply of the cocoa beans. Infact after the NDC lost the 2016 elections, between December 9th - 30th December, they spent $400milliom left from that loan paying off Road contractors when we still had cocoa beans to buy and supply INSPITE OF ALL THE ABOVE LIABILITIES The NPP Government then, never used the debt inherited at Cocobod, the dropped international market price , the rollover cocoa beans inherited as an excuse to reduce farmer price. The Akufo-Addo Government then, maintained the farmer price at GH475 so they don’t inconvenience the farmer. The Nana Akufo-Addo Government paid the penalty of $7.5million dollars on the unfulfilled cocoa supply contract by the NDC and went ahead to fulfil the supply. ANOTHER FACT 1. The NPP on 7th January 2025, left in the CocoBod Account at Ghana International Bank, London, an amount of $500million Dollars, Cash. 2. The NPP Government on 7th January 2025 had already sold and expecting revenue in excess of $1billion Dollars 3. That explains why in the first 4 months of 2025, Cocobod received in their accounts revenue amounting to about $1.8billion Dollars as reported in the budget by Hon. Ato Forson. The fact is that, the current situation is simply a poor trading decision and nothing to do with debts at Cocobod, there has never been a moment in our recent history, Cocobod didn’t hav debt and never did debts at Cocobod lead to such massive haircut on Cocoa farmers price. The earlier this government owns up to this incompetence and finds a solution to it the better. The deflections, the attempt to push and short responsibilities, will not work. The farmers deserve better and must have their price restored without delay #CocoafarmersHaircut

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“I am standing on behalf of all the cocoa farmers here to tell you that the previous government, which was handling COCOBOD, did not leave any debt behind. Until you prove it to us by arresting those responsible, we will not believe you.” — The Chief of Woman No Good, Amenfi West, Western Region, tells Dr. Peter Boamah Otokunor, Director of Presidential Initiatives in Agriculture and Agribusiness at the Office of the President, during the engagement with cocoa farmers in Woman No Good, Amenfi West, Western Region.

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“It’s clear that the previous government caused great damage to the cocoa sector. We also thank the President for what he is giving us, because compared to the previous government’s, his is better.” — A cocoa farmer in Esikuma Odoben, Central Region, declared after Dr. Peter Boamah Otokunor, Director of Presidential Initiatives in Agriculture and Agribusiness at the Office of the President, engaged cocoa farmers in the town.

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“If we decide not to send half of our cocoa beans to the international market, they will be forced to raise their prices since demand is high, and it will be to our benefit.” Dr. Peter Boamah Otokunor, Director of Presidential Initiatives in Agriculture and Agribusiness at the Office of the President, tell cocoa farmers at Jejeti, Atiwa East District, Eastern Region, as he engaged them on the reduction of cocoa prices.

“If we decide not to send half of our cocoa beans to the international market, they will be forced to raise their prices since demand is high, and it will be to our benefit.” Dr. Peter Boamah Otokunor, Director of Presidential Initiatives in Agriculture and Agribusiness at the Office of the President, tell cocoa farmers at Jejeti, Atiwa East District, Eastern Region, as he engaged them on the reduction of cocoa prices.

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