The Minister for Finance, Dr. Cassiel Ato Forson, has announced a comprehensive package of reforms aimed at restoring stability and long-term sustainability to Ghana’s cocoa sector. The measures, approved at a Cabinet meeting on 11th February, 2026, target long-standing challenges related to farmer payments, financing, and governance at the Ghana Cocoa Board (COCOBOD).
Addressing journalists at a press briefing in Accra on Tuesday, Dr. Forson described the cocoa sector as a “strategic pillar” of the economy and said government is taking decisive action to protect farmer livelihoods and strengthen COCOBOD’s financial health.
Clearing Arrears Owed to Farmers
A key component of the reforms is the immediate repayment of outstanding monies owed to cocoa farmers for previously delivered beans. Dr. Forson said funds have already been released to COCOBOD to settle the arrears, noting that timely payments are essential for farmer confidence and production planning.
Producer Price Review
The minister also confirmed that Cabinet has approved an upward adjustment of the producer price of cocoa. The new price—expected to be announced after consultations with farmer associations—will be structured to better reflect global market trends and rising production costs.
New Funding Model and Pricing Mechanism
To reduce COCOBOD’s reliance on short-term borrowing, government is introducing a redesigned funding model. The approach will strengthen the use of forward sales, improve pricing transparency, and tighten financial discipline within the institution. Dr. Forson said the changes are meant to “de-risk COCOBOD and ensure long-term solvency.”
New COCOBOD Bill for Parliament
Another major reform is the development of a new COCOBOD Bill, set to be laid before Parliament in the coming weeks. The proposed legislation will overhaul governance systems within COCOBOD, streamline its regulatory roles, and enhance oversight mechanisms to improve efficiency.
Government Confident of Sector Recovery
Dr. Forson expressed confidence that the reforms will help address the structural issues facing the cocoa industry, including fluctuating global prices, high operational costs, and the financial pressures on farmers. He said the Ministry of Finance and COCOBOD are committed to ensuring that the sector remains
