Old Tafo MP Exposes “Looming Scandal” at COCOBOD

Introduction

A significant controversy has erupted within Ghana’s cocoa industry after the Member of Parliament for Old Tafo, Vincent Ekow Assafuah, alleged serious conflicts of interest at the Ghana Cocoa Board (COCOBOD). The MP’s accusations, shared publicly on social media, suggest that top COCOBOD officials may be involved in private cocoa trading operations that potentially violate regulatory standards and compromise the integrity of Ghana’s vital cocoa sector.

Key Points

Background

The Ghana Cocoa Board (COCOBOD) serves as the regulatory authority for Ghana’s cocoa industry, overseeing Licensed Buying Companies (LBCs) and Produce Buying Companies (PBCs) that purchase cocoa from farmers nationwide. As the world’s second-largest cocoa producer, Ghana’s cocoa sector is crucial to the national economy, with millions of farmers depending on it for their livelihoods.

The current leadership of COCOBOD, under CEO Dr. Randy Abbey, has faced various challenges, including pricing disputes with farmers and operational difficulties. The allegations brought forward by MP Vincent Ekow Assafuah suggest that beneath these surface challenges may lie deeper governance issues that could undermine the entire cocoa value chain.

Analysis

The Conflict of Interest Concern

The core of the MP’s allegations centers on a fundamental conflict of interest. COCOBOD, as the regulatory body, is responsible for supervising and licensing cocoa buying companies. If senior officials within COCOBOD are simultaneously operating private buying entities, this creates an inherent conflict between their regulatory duties and private business interests.

Regulatory Framework Violations

COCOBOD regulations require that warehouses be registered under specific Licensed Buying Companies. The allegation that Atlas Commodities Limited may be operating within PBC-registered warehouses raises serious questions about regulatory compliance. If verified, this would represent a clear violation of established protocols designed to maintain transparency and fairness in the cocoa trading system.

Financial Implications

The MP’s claim that funds intended for LBCs and PBCs were redirected to a private entity suggests potential financial mismanagement with far-reaching consequences. Such actions could deprive legitimate buying companies of necessary capital, disrupt the cocoa purchasing chain, and ultimately affect farmer payments and livelihoods.

Scale and Regional Impact

The allegations mention operations in the Central and Eastern Regions, indicating that if true, the issue extends beyond isolated incidents to potentially systematic practices affecting significant portions of Ghana’s cocoa-producing areas.

Practical Advice

For Cocoa Farmers

1. **Document all transactions**: Maintain detailed records of cocoa sales, including buyer information, quantities, and prices
2. **Verify buyer credentials**: Always confirm that purchasing companies are properly licensed by COCOBOD
3. **Report irregularities**: Contact local COCOBOD offices or police stations if you notice suspicious activities
4. **Join farmer cooperatives**: Collective action provides better protection and bargaining power

For Industry Stakeholders

1. **Demand transparency**: Push for public disclosure of investigations and findings
2. **Support independent audits**: Advocate for third-party audits of COCOBOD operations
3. **Strengthen whistleblower protections**: Ensure systems are in place for reporting misconduct safely
4. **Monitor price mechanisms**: Track cocoa pricing to identify potential market manipulation

For Policymakers

1. **Review regulatory framework**: Assess current regulations for potential loopholes
2. **Implement stricter conflict of interest policies**: Establish clear boundaries between regulatory and commercial activities
3. **Enhance oversight mechanisms**: Strengthen monitoring systems for cocoa trading activities
4. **Protect farmer interests**: Prioritize policies that safeguard smallholder farmers’ interests

FAQ

Conclusion

The allegations raised by MP Vincent Ekow Assafuah against COCOBOD leadership represent a serious challenge to the integrity of Ghana’s cocoa industry. If substantiated, these claims could indicate systemic governance failures that require immediate and comprehensive reform. The situation underscores the critical importance of maintaining strict boundaries between regulatory functions and commercial interests in the management of strategic national commodities.

The call for independent investigation is essential not only to address the specific allegations but also to restore confidence in COCOBOD’s ability to effectively regulate Ghana’s cocoa sector. For millions of cocoa farmers whose livelihoods depend on a fair and transparent trading system, the outcome of this investigation could have profound implications for their economic well-being and the future of Ghana’s cocoa industry.

Sources

– MP Vincent Ekow Assafuah’s Facebook post (February 19, 2026)
– Registrar-General’s Department records
– COCOBOD regulatory framework documentation
– Ghana Police Service reports from Jasikan and Hohoe stations
– MyJoyOnline news coverage (www.myjoyonline.com)

*Note: This article is based on allegations made by the MP and does not constitute proof of wrongdoing. All parties mentioned are presumed innocent until proven otherwise through proper legal channels.*