The Minister for Finance, Dr. Cassiel Ato Forson, will address the nation on Thursday, February 12, to announce a set of Cabinet-approved measures aimed at resolving ongoing challenges in Ghana’s cocoa sector.
This was disclosed by the Minister of State in charge of Government Communications, Felix Kwakye Ofosu, following an emergency Cabinet meeting convened to deliberate on the state of the industry.
According to Mr. Kwakye Ofosu, the address, scheduled for 11:00 a.m., will provide a comprehensive breakdown of decisions taken by Cabinet to stabilise the cocoa sector and fast-track the release of payments owed to cocoa farmers.
The emergency meeting comes at a time of heightened concern within the industry, particularly over delayed payments to farmers and the financial strain facing the Ghana Cocoa Board (COCOBOD). Stakeholders have raised alarms about the sustainability of the sector if urgent interventions are not implemented.
Mr. Kwakye Ofosu stressed that the extraordinary Cabinet session underscores the government’s commitment to resolving the crisis.
“Cabinet would not have convened an emergency meeting unless there was a clear intention to address the challenges confronting the cocoa sector,” he noted.
He revealed that the meeting, which extended over several hours, resulted in firm decisions designed not only to clear outstanding payments but also to introduce far-reaching reforms.
Beyond stabilising farmer incomes, the government is reportedly considering transformative policies to reposition the industry. Central to these reforms is a renewed focus on boosting domestic cocoa processing to reduce the country’s long-standing dependence on exporting raw cocoa beans.
The Finance Minister’s address is expected to provide further clarity on the scope of the interventions and the timelines for implementation, offering reassurance to farmers, industry players, and the wider public about the future direction of Ghana’s cocoa sector.
