The Ghana Cocoa Board (COCOBOD), in collaboration with government and key players in the financial sector, is exploring a new funding framework aimed at reducing Ghana’s dependence on the export of raw cocoa beans and accelerating value addition across the cocoa industry.
Chief Executive Officer of COCOBOD, Dr. Randy Abbey, disclosed this at a press briefing, describing the proposed model as a potential shift in how the cocoa sector is financed and sustained.
According to him, the framework is expected to prioritise local processing of cocoa beans, strengthen domestic industrial capacity and improve revenue generation along the cocoa value chain.
Dr. Abbey explained that the move forms part of broader efforts to transition Ghana away from the long-standing practice of selling cocoa beans largely in their raw form to raise funds for cocoa purchases and seasonal operations.
“The strategy seeks to promote domestic processing, enhance industrial capacity and allow the country to capture more value from its cocoa resources,” he said.
He further assured stakeholders that cocoa farmers who are yet to be paid for cocoa beans supplied will receive their payments by next week, signalling COCOBOD’s commitment to stabilising farmer incomes as reforms are pursued.
Industry analysts say the proposed funding model could help ease Ghana’s reliance on syndicated loan arrangements, which have traditionally been used to finance cocoa purchases at the start of each season. They add that the new approach could create room for more diversified financing, including partnerships with local and international investors interested in cocoa processing and downstream manufacturing.
Dr. Abbey noted that discussions with government and financial sector stakeholders are still ongoing, adding that further details of the funding structure will be made public after broader consultations.
The initiative is part of a wider reform agenda within the cocoa sector aimed at improving long-term sustainability, strengthening farmer livelihoods and positioning Ghana as a leading hub for cocoa processing and chocolate manufacturing in the sub-region.
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