The Minister of Finance, Dr Cassiel Ato Forson, has unveiled an ambitious government initiative to acquire 200,000 hectares of land for cocoa plantations in a bid to revive Ghana’s declining cocoa industry and restore production to one million metric tonnes.
He made the announcement at the inauguration of a new eleven-member Board of Directors for the Ghana Cocoa Board (COCOBOD), held at the Ministry of Finance. Addressing the gathering, Dr Forson underscored the need for bold and urgent measures to reverse the sharp drop in cocoa output, which has plunged from a peak of one million metric tonnes to around 500,000 metric tonnes in recent years.
Now serving on the COCOBOD Board under a new legal provision that mandates the inclusion of the Minister for Finance and the Governor of the Bank of Ghana, Dr Forson reiterated the government's resolve to restore cocoa’s central role in the economy.
“Cocoa has always been the mainstay of our economy, and that must not change,” he said. “Unfortunately, massive mismanagement in recent years has led to a worrying downturn in both production and financial stability. It is time to act decisively.”
He revealed that the government, in partnership with COCOBOD, plans to establish large-scale cocoa plantations by acquiring approximately 200,000 hectares of land. These plantations, he noted, would support and enhance the efforts of smallholder farmers while laying the foundation for sustained growth in the sector.
Dr Forson also drew attention to the pressing issue of cocoa farms affected by disease, especially in the Western Region. These farms, he said, continue to suppress productivity and impact the livelihoods of farmers. He assured COCOBOD of the Ministry of Finance’s full support in pursuing a comprehensive turnaround for the cocoa sector.
Samuel Ofosu Ampofo, Chairman of the newly constituted Board, pledged to “reset, retool, and reposition COCOBOD as a model institution.”
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