The cabinet has approved sweeping reforms in Ghana’s cocoa sector following growing concerns over delayed payments to farmers and rising financial pressures at the Ghana Cocoa Board (COCOBOD).
The announcement came from Felix Kwakye Ofosu, minister of state in charge of government communications, after an emergency cabinet meeting convened to address challenges facing the industry.
According to the minister, the meeting focused on persistent delays in payments to cocoa farmers and broader financial difficulties affecting COCOBOD’s operations.
In recent weeks, cocoa farmers across multiple regions have raised alarms over unpaid monies for beans delivered since late 2025. Many say 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 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, and challenges securing favourable loans to finance annual cocoa purchases.
The reforms announced by the cabinet aim to address structural inefficiencies, strengthen financial management, and ensure timely payments to farmers, while restoring confidence in COCOBOD’s governance.
“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 and regarding the implementation of the most drastic reforms in the cocoa sector,” Kwakye Ofosu said.
Finance Minister Dr Cassiel Ato Forson is expected to address the nation on Thursday, 12 February, at 11 a.m. to outline 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,” Kwakye Ofosu added.
The reforms are expected to include financial restructuring, improved transparency mechanisms, and measures to safeguard farmer incomes, ensuring Ghana maintains its position as one of the world’s top cocoa producers.
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