GHANA’S president-elect, John Dramani Mahama, has vowed to reform the country’s cocoa industry by restructuring the state-run COCOBOD to boost efficiency and empower farmers. Speaking to Reuters, Mahama criticised the current setup, where the regulator competes with farmers for profits.
‘Can we have a state enterprise that acts as a regulator and quality controller, creating opportunities where farmers receive their money directly?’ Mahama questioned. ‘We will see how to restructure COCOBOD.’
COCOBOD under scrutiny
The COCOBOD oversees every aspect of Ghana’s cocoa production—from providing seedlings to jute bags for export—yet inefficiencies have plagued its operations. Between 2018 and 2023, administrative costs tripled, drawing criticism over wasteful spending.
Mahama accused the mismanagement of draining cocoa production funds, depriving farmers of fair earnings and forcing many to abandon cocoa farming for illegal mining or other livelihoods.
‘We need efficiency across the value chain, ensuring the farmer—not bureaucracy—benefits,’ Mahama emphasised.
Private sector role in reform
Mahama hinted at involving the private sector in some COCOBOD functions while maintaining state oversight on regulation and quality control. His reforms aim to revitalise Ghana’s cocoa production, which has plunged to its lowest levels in decades due to climate change, tree diseases, and illegal gold mining.
The IMF’s $3bn bailout has also pressured COCOBOD to propose cost-cutting measures and increase farmers’ revenue share. Mahama signalled his willingness to collaborate with international partners to restore the cocoa industry to its former glory.
‘We’re willing to work with anybody if it makes the cocoa sector more efficient and brings production back to what it was before,’ he stated.
Economic revival on the agenda
Mahama’s decisive victory in the December 7 election reflects public frustration with economic instability, high living costs, and faltering production in key sectors like cocoa and gold. As he prepares to take office on January 7, Mahama plans to prioritise reforms that increase cocoa and crude oil output to drive economic recovery and boost revenue.
By restructuring COCOBOD, Mahama aims to transform the world’s second-largest cocoa producer into a more sustainable and farmer-centric industry, a move critical for Ghana’s economic revival.
