Dr Peter Boamah Otokunor is the Director of the Presidential Initiatives on Agriculture
Dr Peter Boamah Otokunor, Director of the Presidential Initiatives on Agriculture, has argued that COCOBOD experienced persistent mismanagement and needless procurements under the Akufo-Addo government.
Speaking on TV3’s Key Points on February 14, 2026, Dr Otokunor said individuals placed in charge of COCOBOD over the past eight years were responsible for the challenges the institution currently faces.
According to him, between 2021 and 2024, COCOBOD recorded significant losses despite cocoa performing strongly on the international market, citing data from the institution.
“From 2021, the losses were about GH¢199 million; in 2022, GH¢395 million; in 2023, GH¢78 million, later rising as high as GH¢426 million,” he said.
Dr Peter Otokunor added that constant mismanagement and underperformance over the eight-year period under the Akufo-Addo administration led to the collapse of cocoa syndication.
‘Credit us with intelligence!’ – Kpebu calls out Minority over cocoa sector claims
“This constant mismanagement and underperformance over the past eight years led to the collapse of cocoa syndication and forced the 2023 restructuring,” he noted.
He further stated that COCOBOD under the Akufo-Addo administration engaged in needless procurements while neglecting its agronomic responsibilities.
“Other issues included over-procurement of items that were not needed. In fact, COCOBOD’s agronomic responsibilities were completely ignored. The board has two core responsibilities, agronomic and economic. They are supposed to help farmers become more productive and efficient and increase output. However, in the last eight years, programmes that supported farmers, such as free fertilizer distribution, spraying exercises, and extension services, were removed. Instead, the board spent heavily on needless procurement,” he stated.
Watch the video below:
COCOBOD witnessed constant mismanagement and needless procurements under the Akufo-Addo government. The individuals placed in charge of the institution have led us into this ditch.
– Dr Peter Otokunor Boamah, Director of the Presidential Initiative on Agriculture#TheKeyPoints… pic.twitter.com/gV9YN2maLS
— #TV3GH (@tv3_ghana) February 14, 2026
AK/MA
Understanding Ghana’s stock market and how to invest | BizTech
