A political scientist at the University of Ghana Dr Joshua Zaato, has cautioned that Ghanaian farmers are not benefiting from the government’s economic policies, despite apparent improvements in key macroeconomic indicators.

Speaking on JoyNews’ AM Show on Wednesday, 12 February, Dr Zaato said Finance Minister Ato appears to be prioritising macroeconomic fundamentals such as inflation and the cedi exchange rate, but is not “forcing” initiatives to support farmers.

“At the end of the day, something is happening in this country, and we need a formula for that,” Dr Zaato said. “As the fundamentals of the economy are reportedly getting better, as Ato is focusing on inflation, on the cedi exchange rate, and on these macroeconomic indicators, he does not seem to be forcing measures for farmers.”

He highlighted that farmers across the country are struggling due to delayed payments and the risk of bankruptcy, signalling a critical gap in the economic model being used.

“The reason why farmers are crying, why they are asking for payments, why many face bankruptcy, this is something we need to understand. Something is wrong with the economic model that is being used by fundamentals that is not reaching the most productive aspect of the economy,” he said.

Dr Zaato further cautioned that if the situation continues unchecked, more than 12 million Ghanaians could face food insecurity, emphasising that without prompt action, the threat of hunger could impact the entire nation.

His comment comes amid growing alarm over liquidity shortfalls and delayed payments to cocoa farmers and Licensed Buying Companies (LBCs), which industry stakeholders warn could destabilise the sector if not swiftly addressed.

According to the Licensed Cocoa Buyers Association of Ghana (LICOBAG), the government needs to secure emergency financing to buy an estimated 300,000 tonnes of cocoa beans through September to avoid a potential collapse

The Ghana Cocoa Board (COCOBOD), which regulates pricing, purchases and export of cocoa, has acknowledged the funding gap and is working with the Ministry of Finance on possible solutions, including abandoning the long‑standing syndicated loan financing model that underpins cocoa purchases.

Cocoa farmers have expressed frustration over pricing for the 2025/2026 crop season, saying the rates set fall short of expectations and could worsen smuggling incentives and undermine farmer incomes.