The Cabinet has resolved to introduce sweeping reforms in Ghana’s cocoa sector in response to mounting concerns over delayed farmer payments and escalating financial strain at the Ghana Cocoa Board (COCOBOD). The announcement was made by Felix Kwakye Ofosu, Minister of State responsible for Government Communications, following an emergency Cabinet meeting convened to address the sector’s challenges.
According to him, discussions centered on the persistent delays in payments to cocoa farmers and the broader financial pressures undermining COCOBOD’s operations. In recent weeks, farmers across several cocoa-growing regions have voiced frustration over unpaid earnings for beans supplied since late 2025, warning that the situation is jeopardising their livelihoods, healthcare access, and ability to meet school-related expenses.
As a cornerstone of Ghana’s economy, the cocoa industry continues to play a vital role in generating export revenue, sustaining rural employment, and driving foreign exchange inflows. However, in recent years, COCOBOD has faced rising debt obligations, high input costs, declining production levels, and challenges in securing favourable syndicated loans to finance annual cocoa purchases.
The planned reforms are expected to address structural inefficiencies, strengthen financial management, and ensure timely payments to farmers while restoring confidence in the sector’s governance framework.
“We have just concluded a lengthy cabinet meeting, which was an emergency session that discussed the cocoa sector and matters arising there. And at the end of the emergency session, decisive measures have been agreed upon regarding expedited payments of cocoa farmers, regarding the implementation of the most drastic reforms in the cocoa sector,” Kwakye Ofosu said.
Finance Minister Dr. Cassiel Ato Forson is scheduled to address the nation on Thursday, February 12, to present details of the government’s reform agenda and outline immediate measures to stabilise the cocoa industry. “At 11 a.m. on Thursday, the Finance Minister will speak to Ghanaians and announce the far-reaching measures endorsed at the Cabinet meeting,” the statement noted.
The reforms are expected to encompass financial restructuring, enhanced transparency mechanisms, and initiatives designed to protect farmer incomes while reinforcing Ghana’s standing as a leading global cocoa producer.
Source: Akosua Otchere
