Government to announce reforms to revamp cocoa sector, boost farmer payments

Finance Minister Dr Cassiel Ato Forson has promised comprehensive reforms to reset Ghana’s cocoa industry, citing delays in payments to farmers and a need to boost local value addition.

Speaking at a meeting with cocoa processors ahead of a press briefing on Thursday, February 12, Dr Forson said the reforms aim to create a more resilient, value-driven cocoa sector.

“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. Reforms will be announced today, and I’m confident that going forward, all of us will be satisfied,” he stated.

The Finance Minister emphasised the importance of assessing local processing capacity as part of the broader strategy to deepen value addition, a move he said would benefit farmers and the wider economy.

Supporting this view, Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, noted that boosting value addition along the cocoa value chain would create jobs and help stabilise the local currency.

COCOBOD Chief Executive Officer Dr Randy Abbey also weighed in, calling for a strategic shift away from decades of reliance on raw cocoa exports.

“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,” he said.

Ghana is the world’s second-largest cocoa producer, and the industry supports hundreds of thousands of livelihoods across cocoa-growing regions. Delays in payments to farmers, coupled with low local processing, have sparked calls for reforms from both industry stakeholders and policymakers.

The government’s planned measures are expected to address these challenges, encouraging more processing within the country while ensuring farmers are paid promptly and fairly.

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