The Minister for Food and Agriculture, Eric Opoku, has alleged that the Ghana Cocoa Board (COCOBOD) left behind a rollover debt of 330,000 tonnes of cocoa from the previous New Patriotic Party (NPP) administration.

Speaking on Ekosii Sen on Asempa FM, Mr. Opoku cited COCOBOD’s transition report, which he said shows that the former management engaged in forward sales of about 700,000 tonnes of cocoa but failed to meet the target.

He also claimed that COCOBOD borrowed GH¢8.1 billion from commercial banks through the Bank of Ghana using cocoa bills but was unable to repay the amount, leading to its inclusion in the Domestic Debt Exchange Programme (DDEP).

“I have copies of the relevant documents, and no NPP communicator can challenge these figures if they are made public. During the NPP administration, GH¢8.1 billion was borrowed from commercial banks using cocoa bills through the Bank of Ghana. COCOBOD failed to repay this, and it was subsequently added to the Debt Exchange Programme. Additionally, about 700,000 tonnes of cocoa were forward-sold but the target was not met, resulting in a rollover debt of 330,000 tonnes,” he said.

The Minister noted that the financial position inherited from the previous administration has made it extremely difficult for the current government to intervene decisively in the cocoa sector.