Political activist and former government spokesperson Dennis Miracles Aboagye has challenged claims that the Ghana Cocoa Board’s (COCOBOD) inherited debt is the primary reason for delays in payments to cocoa farmers.
Aboagye made the remarks while responding to a series of publications by writer and market researcher Kay Codjoe, who has argued that the current financial difficulties facing COCOBOD stem largely from debt obligations inherited from the previous New Patriotic Party (NPP) administration.
According to Aboagye, the ongoing discussion should focus less on historical debt accumulation and more on the present circumstances affecting cocoa farmers across the country.
He contended that while debt may be a factor, it cannot fully explain the challenges currently confronting farmers, including concerns over delayed payments and pricing issues.
Aboagye pointed out that the NPP administration also inherited significant financial challenges when it assumed office in 2017. These, he said, included debt obligations, unsold cocoa stocks, an exhausted syndicated loan facility, and declining global cocoa prices.
Despite those difficulties, he argued, the previous administration did not reduce producer prices or delay payments to cocoa farmers.
Drawing a comparison with the current administration, Aboagye questioned why farmers continue to face payment challenges despite what he described as substantial revenue generated by COCOBOD in recent years.
He cited figures he said were provided by Finance Minister Dr. Cassiel Ato Forson, claiming that COCOBOD generated approximately GH¢39 billion in revenue in 2025 while inheriting debts estimated at GH¢26 billion.
“Debt is not an excuse. It never has been. It never will be,” Aboagye stated.
He further questioned how the reported revenue has been utilized and called on government officials to provide clear answers regarding the financial position of COCOBOD and the welfare of cocoa farmers.
According to him, the key issue is not the explanation of inherited debt but ensuring that cocoa farmers receive their payments on time and benefit from the revenues generated within the sector.
The comments are the latest contribution to an ongoing public debate over COCOBOD’s financial health, debt profile, and the treatment of cocoa farmers. The discussion has attracted attention from political commentators, economists, and stakeholders within Ghana’s cocoa industry, with differing views emerging on the causes of the current challenges.
As the debate continues, many stakeholders are calling for greater transparency and accountability in the management of COCOBOD’s finances to ensure the long-term sustainability of Ghana’s cocoa sector.
Source By BigTimezGH
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