Mahama: Ghana ready to partner Korea in value-added mineral and cocoa processing
President John Dramani Mahama has expressed Ghana’s readiness to partner the Republic of Korea in adding value to the country’s mineral and cocoa resources as part of efforts to boost industrialisation and increase export earnings.
Speaking during bilateral talks with the South Korean President, Mahama said Ghana is seeking stronger collaboration with Korea, particularly in technology and innovation, to process its natural resources locally before export.
“Ghana has abundant natural and human resources, while Korea has technology and innovation. I believe we can bring these strengths together in a win-win partnership,” the President stated.
He explained that Ghana is shifting its focus from exporting raw materials to value addition, especially in the cocoa sector, which remains one of the country’s most important economic commodities.
“We want to create more value by processing cocoa into products such as cocoa liquor and cocoa butter for export, allowing other industries to turn them into finished products,” Mahama said.
The President noted that climate change has affected cocoa production in recent years, leading to fluctuations in supply and prices on the global market.
“Due to climate change, cocoa production has experienced some challenges. A few years ago, production declined, while this year we are experiencing overproduction, which has led to price fluctuations,” he explained.
He added that expanding cocoa processing would help stabilise the sector while creating more jobs and increasing Ghana’s share of the global cocoa value chain.
President Mahama also highlighted Ghana’s vast mineral resources, including newly discovered critical minerals that are essential for modern technology and green energy production.
“Ghana, like many African countries, has significant potential in critical minerals. We are currently exploiting resources such as bauxite, manganese and gold, and we have discovered large reserves of lithium, nickel and other rare minerals,” he said.
According to him, Ghana is keen on partnering Korea to develop these resources while ensuring value addition takes place within the country.
“Korea has the technology, and we believe we can explore these resources together — not exporting them in their raw form, but adding value before exporting them to Korea and other markets,” he stressed.
President Mahama said the partnership would support Ghana’s broader industrialisation agenda while strengthening economic ties between the two countries.
He also highlighted the African Continental Free Trade Area (AfCFTA), whose secretariat is based in Accra, as a major opportunity for Korean investors seeking access to a large continental market.
“Our goal is to position Ghana as a hub for production and exports to the rest of Africa,” Mahama added.
The President said deeper cooperation between Ghana and Korea in resource processing, technology transfer and trade could create mutual economic benefits for both countries.
