Government Pledges Major Reforms to Reset Ghana’s Cocoa Sector

The government has announced plans to implement comprehensive reforms aimed at revitalising Ghana’s cocoa sector, as mounting challenges including delayed payments to farmers threaten the sustainability of the industry.

Finance Minister Dr. Cassiel Ato Forson disclosed the move during a meeting with cocoa processors ahead of a scheduled press briefing on Thursday, February 12. He said the reforms are intended to build a more resilient, efficient, and value-driven cocoa industry capable of supporting long-term economic growth.

“The sector has sustained this country for years, created jobs, and been the mainstay of our economy. But it is undergoing challenges that need reform,” Dr. Forson said. “Reforms will be announced today, and I’m confident that going forward, all of us will be satisfied.”

He emphasised the need to assess local cocoa processing capacity as part of a broader strategy to deepen value addition and reduce dependence on raw bean exports.

Focus on Value Addition and Jobs

Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, underscored the importance of strengthening value addition along the cocoa value chain. According to her, expanding local processing and manufacturing will not only create employment opportunities but also contribute to stabilising the local currency by increasing export earnings from finished and semi-finished products.

COCOBOD Chief Executive Officer Dr. Randy Abbey echoed the call for a strategic shift in the sector, urging stakeholders to move away from decades of reliance on exporting raw cocoa beans.

“We intend to change the direction of the cocoa sector. Overreliance on raw beans must end. We need to focus on value addition, job creation, and ensuring farmers receive fair value for their work,” Dr. Abbey said.

Addressing Sector Challenges

Ghana’s cocoa industry, long regarded as the backbone of the economy, has recently faced significant pressures, including financial constraints, production challenges, and concerns over delayed payments to farmers.

The proposed reforms are expected to address structural inefficiencies, strengthen the financial position of COCOBOD, improve farmer compensation, and promote industrialisation within the sector.

Government officials say further details of the reform package will be unveiled as part of a broader plan to reset and modernise the cocoa industry for sustainable growth.