The Ghana Cocoa Board (COCOBOD) is intensifying efforts to ensure that at least half of the country’s cocoa production is processed locally, as Ghana seeks to earn more from its cocoa industry by moving beyond the export of raw beans.
The policy, reaffirmed by COCOBOD Chief Executive Officer Dr. Randy Abbey, forms part of a broader strategy to strengthen local manufacturing, create jobs and increase Ghana’s share of the global cocoa value chain.
Speaking at an industry forum, Dr. Abbey stressed that the future of Africa’s cocoa industry should not depend solely on producing more cocoa beans but on adding value through local processing.
“We cannot continue exporting raw materials while others create the jobs, industries and wealth from our cocoa,” he said.
Ghana and Côte d’Ivoire account for a significant share of the world’s cocoa production, yet most of the profits from chocolate manufacturing, branding and retail are earned outside Africa. As a result, cocoa-producing countries remain vulnerable to fluctuations in global commodity prices while capturing only a small portion of the industry’s overall value.
To change this, Cabinet has directed that from the 2026/27 crop season, a minimum of 50% of Ghana’s cocoa beans should be processed locally. The government also plans to revive the state-owned Cocoa Processing Company (CPC) to support the initiative.
The Ministry of Finance has tied the policy to reforms in COCOBOD’s financing model. Under the proposed framework, the cocoa regulator will finance purchases through domestic cocoa bonds, repayable within each crop year. Officials say the move will make more cocoa beans available to local processors and encourage value addition.
Previously, COCOBOD relied heavily on forward sales of raw cocoa beans to secure financing, a system the Finance Ministry believes limited the country’s ability to fully utilise its local processing capacity.
According to Reuters, Ghana currently processes between 30% and 40% of its cocoa production locally, with the government aiming to increase that figure to at least 50% from the next crop season.
Industry experts say achieving the target could significantly boost export earnings, create manufacturing jobs, strengthen local businesses and reduce Ghana’s dependence on raw commodity exports.
However, they caution that meeting the target will require substantial investment in reliable electricity, affordable financing, modern processing facilities, skilled labour and efficient logistics. Access to working capital for local processors will also be critical to ensure they can purchase cocoa beans and compete effectively.
Dr. Abbey also called for stronger cooperation among African cocoa-producing countries, saying a united approach could improve bargaining power, promote fairer pricing and attract greater investment into cocoa processing across the continent.
Beyond increasing exports, the policy is expected to support Ghana’s wider industrialisation agenda by creating opportunities in packaging, logistics, warehousing, quality assurance, machinery maintenance and export services.
Analysts, however, say the success of the initiative will also depend on protecting the welfare of cocoa farmers. They argue that any processing strategy must ensure prompt payments, competitive producer prices and sustainable financing to maintain production and support farmer livelihoods.
With global buyers placing greater emphasis on sustainability, traceability and responsible sourcing, Ghana’s efforts to expand local processing will also need to meet evolving international standards.
