Alan Kyerematen identifies discrepancies that shortchange cocoa farmers

Presidential candidate Alan Kyerematen, representing the Movement for Change, has pledged to end Ghana’s cocoa syndicated loan scheme, which borrows in dollars to pay farmers in depreciating cedis.

He argues that this practice harms farmers by devaluing their earnings, proposing instead that Ghana borrow locally in cedis to finance cocoa purchases, ensuring full value from international sales.

Highlighting record global cocoa prices, he criticized the government for not fairly compensating farmers and vowed to process at least 70% of cocoa locally to boost revenue through value-added products.

Kyerematen also promised free pollination services to increase yields and proposed offering COCOBOD shares to farmers, giving them ownership in the cocoa sector.

His Great Transformational Plan aims to enhance farmers’ prosperity and improve Ghana’s economy.