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Finance Minister Dr Cassiel Ato Forson has announced plans for sweeping reforms aimed at resetting Ghana’s cocoa industry, citing persistent delays in payments to farmers and the urgent need to expand local value addition.
Speaking during a meeting with cocoa processors ahead of a press briefing on Thursday, February 12, Dr Forson said the government is determined to transform the sector into a more resilient and value-driven pillar of the national economy.
“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,” he stated. “Reforms will be announced today, and I’m confident that going forward, all of us will be satisfied.”
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Dr Forson stressed that a key component of the reform agenda will be a comprehensive assessment of Ghana’s local cocoa processing capacity. He explained that strengthening domestic processing is critical to deepening value addition, improving returns to farmers, and boosting economic growth.
According to the Finance Minister, moving beyond raw bean exports will help Ghana capture more value along the cocoa supply chain while strengthening the industry’s long-term sustainability.
Minister for Trade, Agribusiness and Industry Elizabeth Ofosu-Adjare echoed the call for structural transformation, highlighting the broader economic benefits of processing cocoa locally.
She noted that expanding value addition across the cocoa value chain would not only create jobs but also help stabilise the local currency by increasing export earnings from higher-value products.
Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr Randy Abbey, reinforced the urgency of reform, calling for a decisive break 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,” he said.
Ghana, the world’s second-largest cocoa producer, relies heavily on the sector for employment and foreign exchange. Hundreds of thousands of livelihoods across cocoa-growing regions depend on it.
However, delayed payments to farmers and limited local processing capacity have fuelled growing concern among stakeholders, intensifying calls for comprehensive reforms to protect incomes and strengthen the industry.
Government officials say the planned measures will tackle structural bottlenecks in the sector by promoting domestic processing, improving payment systems for farmers, and enhancing overall efficiency across the cocoa value chain.
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