Ghana is set to deepen local participation in cocoa processing, a move aimed at increasing farmer earnings, creating jobs, and strengthening the domestic cocoa industry, Finance Minister Dr Cassiel Ato Forson announced following President John Dramani Mahama’s State of the Nation Address.
Speaking to journalists, Dr. Forson emphasized that the government’s strategy goes beyond short-term price adjustments, focusing instead on sustainable reforms that enhance value addition and keep profits within Ghana.
Central to the plan is the revitalization of local cocoa buying and processing companies, including the Cocoa Processing Company (CPC) and Produce Buying Company (PBC). By strengthening these entities and encouraging Ghanaian businesses to invest in cocoa processing, the government aims to reduce raw bean exports and increase local production of chocolate and other cocoa-based products.
“Processing more cocoa locally will allow Ghana to earn higher export revenues while shielding farmers from global price fluctuations,” Dr. Forson said. “It will also create jobs across the supply chain, particularly benefiting rural communities and the youth.”
The Minister highlighted that improved competition among local buying companies could lead to better services and higher returns for farmers, ensuring that more of the cocoa sector’s profits remain in the domestic economy.
Dr. Forson concluded by reaffirming the government’s commitment to collaborating with stakeholders to implement these reforms effectively, stressing that farmer welfare and rural economic development remain central to national policy.
