The Cabinet has taken a decision to implement sweeping reforms within Ghana’s cocoa sector following growing concerns over delayed payments to farmers and mounting financial pressures at the Ghana Cocoa Board (COCOBOD).
The decision was announced by the Minister of State in charge of Government Communications, Felix Kwakye Ofosu, after an emergency Cabinet meeting convened to assess the challenges confronting the sector.
According to him, the meeting focused primarily on the persistent delays in payments to cocoa farmers, as well as the broader financial stress affecting COCOBOD’s operations.
In recent weeks, farmers across several cocoa-growing regions have complained about unpaid monies for beans supplied since late 2025, warning that the situation is affecting their livelihoods, healthcare access, and ability to pay school fees.
The cocoa sector remains a critical pillar of Ghana’s economy, contributing significantly to export earnings, rural employment, and 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.
The Finance Minister, Dr. Cassiel Ato Forson, is expected to address the nation on Thursday, February 12, to outline the details of the reform measures and provide clarity on the immediate steps the government will take to stabilise the cocoa industry.
“At 11 a.m on [Thursday] the Finance Minister will address the people of Ghana and announce these far-reaching measures as agreed upon at the end of the cabinet meeting.”
The reforms are anticipated to include financial restructuring, improved transparency mechanisms, and measures aimed at safeguarding farmer incomes and sustaining Ghana’s position as one of the world’s leading cocoa producers.
