Government Approves Major Cocoa Sector Reforms; Ato Forson to Announce Measures Thursday

The government has approved far-reaching reforms aimed at restructuring Ghana’s cocoa sector following mounting concerns over delayed payments to farmers and increasing financial strain at the Ghana Cocoa Board (COCOBOD).

The decision was reached during an emergency Cabinet meeting convened to evaluate the challenges facing the industry. Minister of State in charge of Government Communications, Felix Kwakye Ofosu, announced the outcome after the meeting.

According to him, discussions centred largely on the persistent delays in payments to cocoa farmers and the broader financial difficulties affecting COCOBOD’s operations.

In recent weeks, farmers in several cocoa-producing regions have raised alarm over unpaid funds for cocoa beans supplied since late 2025. They warn that the delays are severely impacting their livelihoods, limiting access to healthcare, and making it difficult to cover educational expenses for their children.

The cocoa industry remains a vital component of Ghana’s economy, playing a key role in export revenue generation, rural employment, and foreign exchange earnings. However, COCOBOD has in recent years struggled with rising debt levels, increased input costs, declining production, and difficulties in securing favourable syndicated loans to finance annual cocoa purchases.

The proposed reforms are expected to tackle structural weaknesses within the sector, strengthen financial oversight, enhance transparency, and ensure prompt payment to farmers while rebuilding trust in COCOBOD’s governance framework.

“We have just concluded a lengthy emergency Cabinet session to deliberate on the cocoa sector and related issues. At the end of the meeting, decisive steps were agreed upon to expedite payments to cocoa farmers and to roll out significant reforms within the cocoa industry,” Kwakye Ofosu stated.

Finance Minister Dr. Cassiel Ato Forson is scheduled to address the nation at 11 a.m. on Thursday, February 12, to present the details of the reform programme and outline immediate actions to stabilise the sector.

The measures are expected to include financial restructuring initiatives, strengthened accountability systems, and policies designed to protect farmer incomes and preserve Ghana’s standing as one of the world’s leading cocoa producers.