Renowned media and sports personality, Dr. Ransford Anertey Abbey, widely known as Randy Abbey has a very challenging task ahead as he is set to inherit a very troubled cocoa sector.
Dr. Randy Abbey was on Tuesday, January 21, 2025, appointed by President John Mahama as the Acting Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD). This appointment took effect the same day.
The former host of Metro TV’s Good Morning Ghana show steps into the shoes of Dr. Joseph Boahen Aidoo, the former CEO appointed by the previous government.
His appointment comes at a critical juncture in the country’s cocoa sector. The sector has faced numerous challenges in recent years with the paramount one being the ever-decreasing cocoa production.
A country that produced 1.4 million tons in the 2020/2021 crop season is now struggling to produce half of this achievement. Although a target of 810,000 tons was set for the 2024/2025 crop season, the management later revised the target downwards to 650,000 tons.
The dwindling production, sector players attribute to illegal mining leading to the destruction of large hectares of farmlands. COCOBOD confirms that about 20,000 hectares of cocoa farms have been lost to illegal mining in Ashanti and Western Regions alone. This implies the hectares could be higher if other regions such as Central, Eastern, and Western North are added.
Climate change as well as smuggling continue to plague the cocoa sector. For instance, in the 2024/2024 crop season alone, 160,000 tons of cocoa beans were estimated to have been smuggled outside the country to neighboring countries.
The declining production, coupled with smuggling has also impacted local processing companies. These companies are unable to get adequate beans for processing.
Farmers also often bemoan the price the government pays for their cocoa beans citing increasing prices of the commodity on the international market. Although a number of increases in prices have been recorded recently with a 64kg bag and a ton selling at GH₵3,100 and GH₵49,600 respectively, farmers are agitating that the prices could be better.
Another major challenge, Dr. Randy Abbey faces is the over 3-decade old cocoa syndication loan. Recently, the former management struggled to obtain the syndicated loan hence deciding to abandon the arrangement – a decision that was opposed by the Finance Ministry.
COCOBOD itself has often come under heavy criticism for an over-bloated workforce. This situation, analysts explain as leading to wastage and inefficiencies.
With these challenges, Dr. Abbey’s appointment comes with very high expectations from the cocoa sector stakeholders. His tasks include ensuring timely payment to farmers, stabilizing the internal cocoa market, and negotiating favorable terms in the international cocoa trade. He also faces the daunting challenge of increasing production amidst the threat of galamsey and adverse climatic conditions.
He is also expected to spearhead efforts to enhance productivity through the adoption of modern farming techniques and technology.
Furthermore, his leadership will be crucial in driving the implementation of sustainable farming practices and strengthening Ghana’s position within the global cocoa value chain.
