The government has announced plans to introduce a new financing framework for cocoa purchases and related operations as part of reforms aimed at improving the sustainability of Ghana’s cocoa sector.
Finance Minister Dr Cassiel Ato Forson disclosed this while presenting the 2026 Mid-Year Fiscal Policy Review in Parliament on Thursday, July 23.
He said government will submit a new COCOBOD Bill to Parliament to repeal and replace the Ghana Cocoa Board Act, 1984 (PNDCL 81), in a bid to modernise the governance and financing structure of the cocoa industry.
According to Dr Forson, the proposed legislation will introduce a new producer pricing mechanism that links cocoa producer prices to international cocoa prices, exchange rate movements and other relevant market conditions.
He added that the new framework will guarantee cocoa farmers not less than 70 percent of the gross Free-on-Board (FOB) price of cocoa.
“The Bill will also seek to establish a new financing framework for cocoa purchases and related operations and restore the long-term financial sustainability and operational efficiency of COCOBOD,” he told Parliament.
The Finance Minister said the reforms will also ensure that at least 50 percent of cocoa beans produced in Ghana are processed locally to promote value addition and increase the benefits derived from the country’s cocoa resources.
Dr Forson described the cocoa sector as a critical pillar of Ghana’s economy, providing export earnings and livelihoods for millions of citizens, especially those in rural communities.
He said the proposed reforms are expected to strengthen the financial position of the sector, improve returns to farmers, enhance local processing capacity and position Ghana’s cocoa industry for sustainable long-term growth.
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