The government is set to acquire 200,000 hectares of land for cocoa plantations as part of a major push to revive Ghana’s cocoa industry and restore annual production to one million metric tonnes, Finance Minister Dr. Cassiel Ato Forson has announced.
Speaking at the inauguration of a new 11-member Board of Directors for the Ghana Cocoa Board (COCOBOD) at the Ministry of Finance, Dr. Forson emphasised the urgent need for decisive intervention in a sector he described as the cornerstone of Ghana’s economy.
“Cocoa has always been the mainstay of our economy, and that must not change,” he stated. “Unfortunately, massive mismanagement in recent years has led to a worrying downturn in both production and financial stability. It is time to act decisively.”
Ghana’s cocoa production has declined sharply from a historic high of one million metric tonnes to about 500,000 metric tonnes in recent years, prompting concerns over the sustainability of the sector and its contribution to the national economy.
To reverse the trend, Dr. Forson said the government, through COCOBOD, would acquire vast tracts of land to establish large-scale plantation farms. These plantations are intended to complement smallholder cocoa farming while boosting national output and creating jobs.
He also underscored the urgent need to rehabilitate disease-ravaged farms, especially in the Western Region, where swollen shoot disease has devastated cocoa trees and disrupted the livelihoods of thousands of farmers.
As a new legal provision requires, both the Finance Minister and the Governor of the Bank of Ghana will now serve on the COCOBOD Board. Dr. Forson pledged full backing from the Finance Ministry to support the Board’s turnaround strategy.
The newly inaugurated Board is chaired by Dr. Samuel Ofosu Ampofo, who pledged to “reset, retool, and reposition COCOBOD as a model institution.”
The government’s renewed focus on cocoa comes amid global concerns about supply shortages and price volatility. By investing in new plantations and sector reforms, authorities hope to restore Ghana’s reputation as one of the world’s leading cocoa producers.
