Emergency Cabinet Meeting; Finance Minister Set to Unveil Cocoa Sector Reform Package on Thursday- Felix Kwakye Ofosu
The Government has concluded an emergency Cabinet meeting focused on the cocoa sector, with key decisions taken to reform the industry and improve conditions for cocoa farmers across the country.
Addressing the media after the meeting, the Spokesperson to the President and Minister for Government Communications, Hon. Felix Kwakye Ofosu, disclosed that the session deliberated extensively on proposed sector reforms and other related matters aimed at strengthening Ghana’s cocoa industry.
According to him, the Cabinet has agreed on decisive measures to ensure the expedited payment of cocoa farmers, a move expected to address longstanding concerns within the sector.
“As advertised yesterday, we have just concluded the lengthy Cabinet meeting, which was an emergency session that discussed the proposed sector and matters arising there,” Hon. Kwakye Ofosu stated.
He further revealed that the government is set to implement major reforms designed to transform the cocoa sector, particularly by increasing local processing capacity.
“Decisive measures have been agreed upon regarding expedited payments of cocoa farmers and the implementation of the most drastic reforms in the cocoa sector, with a view to achieving quantum leaps in domestic processing of cocoa, as opposed to exports of raw materials,” he said.
The reforms will also target the Ghana Cocoa Board (COCOBOD), with plans to improve administrative efficiency and strengthen management structures to ensure the sector operates more effectively.
“Various reforms will be carried out at the Cocoa Board in order to ensure more effective administration and management of the cocoa sector,” Hon. Kwakye Ofosu added.
He announced that further details of the reforms will be communicated to the public by the Minister for Finance.
“At 11 a.m. tomorrow, the Finance Minister will address the people of Ghana and announce these far-reaching measures as agreed upon at the end of the Cabinet meeting today,” he noted.
Hon. Kwakye Ofosu encouraged the public and stakeholders to follow the upcoming briefing, which is expected to provide comprehensive details of the government’s reform agenda for the cocoa sector.
The cocoa industry remains a critical pillar of Ghana’s economy, serving as a major source of foreign exchange and livelihood for thousands of farmers nationwide.
The government’s latest intervention is therefore anticipated to significantly influence the sector’s productivity and sustainability.
