The Member of Parliament for Ofoase Ayirebi, Kojo Oppong Nkrumah, has warned that between five and six million Ghanaians could be affected by what he describes as flawed cocoa trading practices and monetary policy decisions under the current administration.
Speaking on JoyNews on February 27, the former Information Minister argued that the cocoa sector alone has far-reaching implications for livelihoods across the country.
Cocoa’s Ripple Effect on Livelihoods
Mr. Oppong Nkrumah noted that while about one million people are directly engaged in cocoa farming, the number of individuals affected rises significantly when farm hands and dependants are considered.
He estimated that nearly four million people could be impacted by policy decisions affecting cocoa, stressing that the crop remains a cornerstone of Ghana’s economy and employment.
“For those who do not understand the role cocoa plays in the Ghanaian economy, they will downplay this issue,” he said. “Cocoa is a major driver of employment and job creation in the economy.”
Farmers Struggling Beyond Cocoa
Beyond cocoa, he highlighted challenges faced by rice and maize farmers, who he said are grappling with the effects of the current monetary policy environment.
According to him, many farmers who took loans to cultivate and process rice now find imported rice cheaper than locally produced varieties, pushing them into debt and creating uncertainty about future farming seasons.
Manufacturing Sector Also Under Pressure
Mr. Oppong Nkrumah extended his concerns to the manufacturing sector, pointing to rising production costs — particularly electricity tariffs — which he claimed have increased by at least 24 percent for many producers.
He argued that these cost pressures are squeezing businesses and could lead to reduced output and job losses if not addressed.
Inflation Figures vs. Daily Reality
The MP also questioned the government’s inflation management approach, citing the sterilisation of GH¢62 billion in 2025 as a policy measure that may improve headline inflation figures without easing the financial burden on ordinary citizens.
“You may measure it and say inflation is at 3.8 per cent year on year, but the average Ghanaian will tell you that it is becoming difficult for them to buy,” he said.
Call for Policy Reassessment
With debates intensifying over inflation, exchange rate management, utility tariffs and support for key sectors, Mr. Oppong Nkrumah maintained that the Minority’s stance reflects solidarity with farmers, producers and the middle class.
He insisted that these groups are bearing the brunt of current economic policies and urged a reassessment to prevent further strain on livelihoods.
