NPP Government Misused $263 Million Loan for Cocoa Rehabilitation – COCOBOD CEO Dr. Randy Abbey
Ghana Cocoa Board (COCOBOD) CEO, Dr. Randy Abbey, has expressed disappointment over the misuse of a $263 million fund meant for rehabilitating 156,000 hectares of cocoa farms.
According to Dr. Abbey, the project initially planned to allocate $223 million for rehabilitation and $40 million for irrigation.
However, the entire amount was used for rehabilitation purposes alone, resulting in only 40,000 hectares being rehabilitated.
Dr. Abbey described this as a missed opportunity to significantly boost cocoa yields.
He made these remarks while meeting cocoa farmers at Nkawie in the Ashanti Region on May 1, 2025, as part of Labour Day celebrations.
The CEO emphasized the need for prudent resource management to achieve desired outcomes in the cocoa sector.
Dr. Abbey’s concerns highlight the challenges facing the cocoa industry, including inefficient use of resources.
COCOBOD’s poor financial situation is also hindering efforts to improve cocoa road infrastructure and implement essential interventions.
Despite these challenges, Dr. Abbey has pledged to tackle issues affecting the cocoa sector and work closely with farmers to boost production.
The CEO’s commitment to addressing challenges in the cocoa sector has been evident in his recent interactions with farmers.
Source: Ghana/otecfmghana.com/Jacob Agyenim Boateng, Kumai
