Members of the Minority in Parliament staged a symbolic demonstration following the State of the Nation Address, raising cocoa pods to signal their focus on the future of Ghana’s cocoa industry to President John Dramani Mahama.
The gesture coincided with the government’s announcement of an extensive restructuring plan aimed at stabilizing the sector and ensuring fairer conditions for farmers. Finance Minister Dr. Cassiel Ato Forson detailed the measures on Thursday, February 12, outlining a shift toward financial sustainability and increased domestic value addition for a product globally recognized for its premium quality.
Central to the reform is a significant financial overhaul designed to restore the balance sheet of the Ghana Cocoa Board (COCOBOD). The government confirmed that GH¢5.8 billion in legacy debt owed to the Ministry of Finance and the Bank of Ghana will be converted into equity.
Furthermore, the 32-year-old syndicated loan model is being retired in favor of a new financing system using domestic cocoa bonds starting in the 2026–2027 season. To further ease the board’s financial strain, GH¢4.35 billion in road construction liabilities will be transferred from COCOBOD to the Ministry of Roads and Highways and the Ministry of Finance.
Beyond financial restructuring, the new policy mandates a major shift toward local industrialization. Starting from the 2026–2027 season, at least 50% of all cocoa beans produced in Ghana must be processed locally, with all remaining beans from the current season already allocated for domestic processing.
As part of this push for value addition, the government has pledged to prioritize the revival of state entities, specifically the Cocoa Processing Company and the Produce Buying Company, to lead the nation’s efforts in processing and purchasing.
