The Chief Executive Officer of the Ghana Cocoa Board, Randy Abbey, has firmly rejected demands by the Minority in Parliament for his dismissal, arguing that the current difficulties confronting the cocoa sector are the result of policy choices made by the previous administration.

The Minority caucus has taken issue with ongoing reforms in the industry, particularly the recent downward adjustment of the cocoa producer price, which it claims places undue burden on farmers. On that basis, the group has called for Dr. Abbey’s removal from office.

Addressing the matter on Thursday, February 12, 2026, Dr. Abbey said the financing arrangement currently used to purchase cocoa beans was not conceived under his leadership but was inherited from earlier management.

He explained that the long-standing syndicated loan facility, which had supported cocoa purchases for more than three decades, broke down during the 2023/2024 season under the former government.

According to him, the collapse followed a default on the facility, which led COCOBOD to seek debt deferment and restructuring under the Domestic Debt Exchange Programme, a development that ultimately undermined lender confidence and disrupted the financing arrangement.

Dr. Abbey noted that the first tranche of the loan for that season was only received late in December, an unprecedented delay that underscored the severity of the problem and paved the way for the alternative buyer-driven funding model now in place.

He maintained that upon taking office, management conducted a thorough review of the inherited framework and concluded that it was not viable in the long term.

As a result, he said, efforts are underway to develop a more sustainable financing structure that will stabilize cocoa purchases and safeguard the future of the industry.

Dr. Abbey insisted that the reforms being pursued are aimed at restoring financial stability to the cocoa sector rather than punishing farmers, and urged critics to consider the broader context within which the current decisions are being made.