A leading candidate in the New Patriotic Party (NPP) presidential primary, Bryan Acheampong, has emphasised his role in transforming Ghana’s cocoa financing model as he seeks to persuade party delegates. While campaigning, the Abetifi MP noted that he made history at the Ministry of Agriculture by ending COCOBOD’s longstanding dependence on syndicated loans for cocoa purchases.
“Since 1947, COCOBOD has consistently relied on syndication, typically securing around $2 billion at an interest rate of about 10 percent,” Mr. Acheampong explained in a video that has been widely shared online. “When I took office, I cancelled syndication. For the first time, we didn’t do it.”
He elaborated that under his leadership, Ghana instead adopted a direct-sale approach: “If you want Ghana’s cocoa, bring your money, and we will supply it to you. I will not take out a loan to buy cocoa, supply it to you, and then repay the interest.”
Mr. Acheampong referred to this decision as a “Kwahu business calculation,” characterising it as a bold yet pragmatic move that received the support of then-President Nana Akufo-Addo. He argued that this policy saved the country millions in interest payments and showcased his ability to make “big decisions” that benefit Ghana.
The MP, who is pitching himself as the man of ideas in the NPP race, used the example to contrast his record with that of rivals, urging delegates to examine how others have translated promises into action. His comments come as the NPP intensifies its search for a flagbearer ahead of the 2026 general elections, in what is shaping up to be one of the most competitive leadership contests in the party’s recent history.
Vetting of aspirants officially starts today.
Source: Jonathan Ofori
