Dr. Peter Boamah Otokunor, the Director of the Presidential Initiatives on Agriculture, has raised serious concerns regarding the management of the Ghana Cocoa Board (COCOBOD) under the leadership of President Akufo-Addo. During a recent appearance on TV3’s Key Points, he attributed the board’s ongoing challenges to a series of mismanagement issues and inappropriate procurement practices that have persisted over the past eight years.
Dr. Otokunor cited alarming financial losses for COCOBOD, stating that between 2021 and 2024, the organization suffered significant deficits despite favorable global cocoa prices. He reported that losses escalated from GH¢199 million in 2021 to a staggering GH¢426 million by 2023. This trend highlights a troubling pattern of financial instability within the organization.
The Director emphasized that the leadership failures during this period have severely undermined the cocoa syndication process, ultimately prompting a necessary restructuring in 2023. He remarked, “The ongoing mismanagement and lack of performance have led us into this predicament.”
Additionally, Dr. Otokunor criticized COCOBOD for engaging in excessive procurement of unnecessary items while neglecting its core agronomic responsibilities. He explained that the board was supposed to enhance productivity and efficiency among farmers but instead removed vital support programs such as free fertilizer distribution and essential agricultural services.
“The board’s focus shifted away from its primary duties, leading to the abandonment of initiatives that directly benefited farmers,” he noted, underscoring the detrimental impact of poor decision-making on the agricultural sector.
As the cocoa industry remains a crucial component of Ghana’s economy, the implications of these management issues are far-reaching. Stakeholders are urging accountability and a reevaluation of leadership strategies within COCOBOD to secure the future of Ghana’s cocoa production.
