Alliance for Western North Cocoa Farmers has expressed their sincere appreciation to the Government of Ghana and the management of the Ghana Cocoa Board (COCOBOD) for the release of GH₵237 million to Licensed Buying Companies (LBCs) to facilitate prompt payment to hardworking cocoa farmers.
This timely intervention demonstrates government’s commitment to protecting the welfare of cocoa farmers despite the ongoing global cocoa price reduction and its impact on the sector. In addition, we take note of COCOBOD’s announcement of internal pay cuts as part of broader cost-saving measures. While such decisions may be difficult, they signal a willingness on the part of management to make sacrifices in order to stabilize the cocoa industry and prioritize farmers.
At this critical moment, we believe fiscal discipline, transparency, and shared sacrifice are necessary to restore confidence in the cocoa sector. Cocoa farmers remain the backbone of the industry, and every prudent step taken to sustain the sector ultimately safeguards rural livelihoods and the national economy.
However, we also strongly urge the appropriate state institutions to thoroughly investigate the factors that led to the financial strain within COCOBOD in previous years. If any individuals are found to have mismanaged resources or contributed to the weakening of the institution, they must be held accountable in accordance with the laws of Ghana. Accountability will not only serve justice but will also deter future mismanagement.
In a press statement signed by Mr. Isaiah Kwarteng, Convenor of the Alliance, the government was praised for its immediate intervention, directing the Finance Minister to release funds to cocoa farmers in the country.
The Alliance for Western North Cocoa Farmers remains committed to constructive engagement with government, COCOBOD, and all stakeholders to ensure policies and reforms continue to prioritize the welfare of cocoa farmers
We call on all farmers to remain calm, continue their diligent work, and cooperate with Licensed Buying Companies as payments are processed.
By: Daniel Akwasi Nuako, Bibiani
