By Francis Kobena Tandoh
Finance Minister Dr Cassiel Ato Forson will, at 11 a.m. today, Feb. 12, announce a series of far-reaching reforms aimed at stabilising and reviving Ghana’s troubled cocoa sector.
The announcement follows an emergency Cabinet meeting held at the Presidency on Wednesday to address growing concerns within the industry.
Among key measures expected to be announced by the minister are fast-tracking outstanding payments to cocoa farmers to ease financial hardships and restore confidence in the sector.
There is also an indication that the Cabinet will approve drastic reforms within the Ghana Cocoa Board (COCOBOD) to improve efficiency, cut waste, and strengthen financial management.
The government is also expected to prioritise local processing of cocoa instead of exporting raw beans, aiming to increase value addition, create jobs, and boost export earnings.
Finally, a comprehensive package of policies to stabilise the cocoa industry, protect farmer incomes, and ensure long-term sustainability is expected to be announced by the finance minister.
Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu, told the media after an emergency Cabinet meeting on Wednesday that the government will unveil sweeping reforms to tackle the challenges that have bedevilled the cocoa sector in recent times.
According to him, the emergency Cabinet meeting was convened due to mounting financial pressure on COCOBOD and farmer agitation over delayed payments, stressing that “decisive solutions were necessary.”
The reforms, he emphasised, are part of President John Dramani Mahama’s broader economic recovery programme, with cocoa identified as a critical pillar for stabilising Ghana’s economy.
Ghana’s cocoa production has declined sharply in recent years due to disease, climate change, illegal mining (galamsey), and financial mismanagement, raising fears over the country’s position as one of the world’s leading cocoa producers. Enditem
Source: Ghana Eye Report
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