Cabinet has approved sweeping reforms in Ghana’s cocoa sector following mounting concerns over delayed payments to farmers and growing financial pressures at the Ghana Cocoa Board (COCOBOD).
The decision was announced by the Minister of State in charge of Government Communications, Mr Felix Kwakye Ofosu, after an emergency Cabinet meeting convened to review the challenges confronting the industry.
He said discussions centred on persistent payment delays to cocoa farmers and the broader financial strain affecting COCOBOD’s operations.
In recent weeks, cocoa farmers in several producing regions have reported outstanding payments for beans supplied since late 2025, warning that the delays are affecting their livelihoods, access to healthcare, and ability to pay school fees.
The cocoa sector remains a key pillar of Ghana’s economy, contributing substantially to export earnings, rural employment, and foreign exchange inflows.
However, COCOBOD has in recent years grappled with rising debt levels, increasing input costs, declining production, and difficulties securing favourable syndicated loans to finance annual cocoa purchases.
Mr Kwakye Ofosu said Cabinet had agreed on decisive measures to expedite payments to farmers and introduce far-reaching reforms aimed at restoring stability and confidence in the sector.
“We have just concluded a lengthy emergency Cabinet meeting to deliberate on the cocoa sector and matters arising. At the end of the session, decisive measures were agreed upon regarding expedited payments to cocoa farmers and the implementation of significant reforms in the sector,” he said.
The planned reforms are expected to address structural inefficiencies, strengthen financial management, and enhance transparency within COCOBOD’s operations. They are also aimed at safeguarding farmer incomes and reinforcing governance systems in the cocoa industry.
The Minister announced that the Finance Minister, Dr Cassiel Ato Forson, would address the nation at 11:00 a.m. on Thursday, February 12, to outline details of the measures and clarify immediate steps to stabilize the industry.
The reforms are anticipated to include financial restructuring initiatives, improved oversight mechanisms, and strategies to sustain Ghana’s position as one of the world’s leading cocoa producers while ensuring timely remuneration for farmers.
