Accra, Ghana – Finance Minister Dr. Cassiel Ato Forson has announced a package of measures to address the crisis facing Ghana’s cocoa sector. The reforms, aimed at stabilizing the industry and protecting farmer incomes, include local processing, a new financing model, debt restructuring, and a producer price increase.
Speaking at a press conference, Dr. Forson emphasized the government’s commitment to restoring Ghana’s cocoa sector to its former glory. “We recognize the challenges facing our cocoa farmers and the industry as a whole,” he said. “These reforms are designed to ensure a sustainable future for cocoa production in Ghana.”
Key highlights of the reforms include the requirement for at least 50% of Ghana’s cocoa beans to be processed locally from the 2026/2027 crop season, a new financing model utilizing domestic cocoa bonds, and the conversion of COCOBOD’s legacy debt of GH¢5.8 billion onto the Ministry of Finance and Bank of Ghana.
The government has also announced a producer price of GH¢41,392 per tonne and GH¢2,587 per bag for the remainder of the 2025-2026 crop season, reflecting the current world market price.
The reforms have been welcomed by stakeholders in the cocoa industry, who praise the government’s efforts to address the sector’s challenges. “These measures will go a long way in stabilizing the industry and improving the lives of cocoa farmers,” said a spokesperson for the Ghana Cocoa Farmers Association.
The government has also announced a forensic audit and criminal investigation into COCOBOD’s activities over the past eight years to ensure accountability and transparency in the sector.
The reforms are expected to have a positive impact on Ghana’s economy, with the cocoa sector playing a critical role in the country’s development.
