The government has announced that 50% of Ghana’s cocoa beans will be processed locally starting from the 2026-27 season, following plans to overhaul the financing of the cocoa regulator. This move aims to deepen value addition and restore the Ghana Cocoa Board’s balance sheet.
Finance Minister Dr. Cassiel Ato Forson said that Cabinet has approved reforms that include a new Cocobod bill to be submitted to parliament. The legislation will introduce a new financing model based on domestic cocoa bonds, replacing the current system that depends on buyers’ pre-financing cocoa purchases after the collapse of Cocobod’s annual syndicated loan.
The bond structure will be used to raise a revolving fund that can be turned over at least once during the season, Dr. Forson said at a media briefing. Cabinet has also directed that the remainder of the cocoa beans for the 2025-26 crop year be allocated for domestic processing, Dr. Forson said. From 2026-27, at least half of all cocoa beans will be processed locally, with the requirement embedded in the new law.
The Finance Minister mentioned that he and Trade Minister Elizabeth Ofosu-Adjare met domestic processors earlier, and the companies indicated they have the capacity to process more than 50% of Ghana’s output.
The reforms include steps to revive state-owned firms, including the Produce Buying Company as a leading licensed buying company and the Cocoa Processing Company as a key processor.
Cabinet has also directed the finance ministry to seek parliamentary approval to absorb Cocobod’s legacy debts, which Dr. Forson put at about GH₵5.8 billion, including obligations to the Ministry of Finance and the Bank of Ghana.
In addition, the government will transfer GH₵4.35 billion in cocoa road liabilities to the Ministry of Roads and Highways and the Ministry of Finance after a review reduced exposure from more than GH₵21 billion, Dr. Forson said. The new Cocobod bill will prohibit quasi-fiscal spending such as road construction, he added.
Cabinet has further directed the Attorney General to commission a forensic audit and criminal investigation into Cocobod’s activities over the last eight years, Dr. Forson said, as government moves to tighten oversight and cut costs.
“These reforms will protect the interest of the cocoa farmer and the cocoa sector,” the Finance Minister said.
