NPP’s Fiifi Boafo Exposes Secret Management Scandal at COCOBOD

Former Ghana Cocoa Board (COCOBOD) Head of Corporate Affairs and New Patriotic Party (NPP) communicator Stephen Fiifi Boafo has raised concerns about the management of Ghana’s cocoa sector, questioning decisions that he believes have contributed to financial difficulties at the state-owned institution.

His comments have brought renewed attention to allegations of mismanagement, transparency and the financial challenges facing COCOBOD under the current administration.

In February 2026, Boafo criticised the government and COCOBOD management over their handling of cocoa sales, arguing that Ghana had missed an opportunity to benefit from international market prices that exceeded $10,000 per tonne.

He questioned why cocoa had not been sold when prices were at those levels, suggesting that the timing of sales and the decisions taken by management had affected the revenue available to support cocoa farmers.

According to Boafo, the 2024/2025 cocoa season was projected to generate approximately $3.2 billion in revenue. He argued that the government should explain why the country had failed to take full advantage of favourable international prices.

The former COCOBOD official also challenged explanations that linked the institution’s financial difficulties to the abandonment of the long-standing syndicated loan financing model. He maintained that alternative financing arrangements had previously been used to support cocoa production.

His criticism followed the reduction of the cocoa producer price from GH¢3,100 to GH¢2,587 per 64-kilogramme bag in February 2026. Boafo argued that the reduction could have been avoided through better planning, forward sales and more effective management of market risks.

The controversy has raised concerns about the impact of financial and administrative decisions on cocoa farmers, who depend on the crop for their livelihoods. It has also intensified political exchanges between the NPP and the governing National Democratic Congress (NDC) over responsibility for the sector’s difficulties.

However, Boafo’s statements represent his assessment of COCOBOD’s management. They do not, on their own, establish that a criminal corruption scandal has occurred.

The key questions remain whether management decisions were appropriate, how the institution’s financial exposure developed, and what measures can ensure that cocoa farmers receive fair and reliable payments.

As discussions continue, greater transparency over cocoa sales, financing arrangements and revenue management will be important in determining the causes of COCOBOD’s difficulties and the steps needed to address them.

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