Ghana’s government has unveiled sweeping reforms to rescue the country’s cocoa sector, including debt conversion, price cuts, and a mandate for local processing. Finance Minister Cassiel Ato Forson announced that the government will convert GH¢5.8 billion in legacy debt owed by Cocobod to the Ministry of Finance and Bank of Ghana, while also reducing the producer price by 28.6% to GH¢41,392 per tonne for the remainder of the 2025/2026 season.
The reforms aim to stabilize the industry, protect farmer incomes, and boost local processing. At least 50% of Ghana’s cocoa beans will be processed locally from the 2026/2027 crop season, with the state-owned Cocoa Processing Company leading the charge. A new financing model using domestic cocoa bonds will also be introduced to reduce reliance on external loans.
