Ghana’s Finance Minister is set to announce a package of far-reaching measures aimed at resolving the ongoing challenges in the country’s cocoa sector, following an emergency Cabinet meeting held on Wednesday.
The Minister of State in charge of Government Communications, Felix Kwakye Ofosu, said the emergency session focused exclusively on issues affecting the cocoa industry, including delayed payments to farmers and operational difficulties within the sector.
He explained that Cabinet has agreed on decisive interventions, including the expedited payment of cocoa farmers, major structural reforms at the Ghana Cocoa Board (COCOBOD), and steps to significantly boost domestic cocoa processing in order to reduce reliance on the export of raw cocoa beans.
According to Mr Kwakye Ofosu, the proposed reforms are also expected to improve the administration and overall management of the cocoa sector.
The finance minister is scheduled to address the nation at 11am on Thursday, February 12, to announce the full details of the measures and outline timelines for their implementation.