Ghana’s Cabinet has approved wide-ranging reforms in the cocoa sector following growing concerns over delayed payments to farmers and financial pressures at the Ghana Cocoa Board (COCOBOD).
The decision was announced by Felix Kwakye Ofosu, Minister of State in charge of Government Communications, after an emergency Cabinet meeting convened to address challenges facing the industry. He said discussions focused on persistent delays in payments to cocoa farmers and broader financial stress affecting COCOBOD’s operations.
Farmers in several cocoa-growing regions have recently complained about unpaid monies for beans supplied since late 2025, warning the situation is affecting their livelihoods, healthcare access and ability to pay school fees.
Cocoa remains a critical pillar of Ghana’s economy, contributing to export earnings, rural employment and foreign exchange inflows. But COCOBOD has struggled in recent years with rising debt obligations, high input costs, declining production levels and difficulties securing favorable syndicated loans to finance annual cocoa purchases.
The 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.
Finance Minister Dr. Cassiel Ato Forson is scheduled to address the nation Thursday, Feb. 11, at 11 a.m. to outline details of the reform measures and provide clarity on immediate steps to stabilize the 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 said.
The reforms are anticipated to include financial restructuring, improved transparency mechanisms and measures aimed at safeguarding farmer incomes while sustaining Ghana’s position as one of the world’s leading cocoa producers
