The Minister for Finance, Dr. Cassiel Ato Forson, has announced an ambitious government plan to acquire 200000 hectares of land for cocoa plantations as part of efforts to revive Ghana’s struggling cocoa sector and restore production levels to 1 million metric tonnes.
Speaking at the inauguration of a new eleven-member Board of Directors for the Ghana Cocoa Board (COCOBOD) at the Ministry of Finance, Dr. Forson stressed the urgent need for bold interventions to address the sharp decline in cocoa production, which has fallen from a peak of 1 million metric tonnes to about 500,000 metric tonnes in recent years.
Dr. Forson, who now serves on the COCOBOD Board by virtue of a new legal provision mandating the inclusion of the Finance Minister and the Governor of the Bank of Ghana, reaffirmed government’s commitment to repositioning cocoa as the cornerstone of the national 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 disclosed that government, working through COCOBOD, would establish plantation farms by acquiring about 200000 hectares of cocoa land to significantly boost production levels. This, he explained, would complement existing smallholder farmer operations and ensure sustainable growth in the sector.
Dr. Forson also highlighted the need to urgently tackle diseased farms, particularly in the Western Region, which continue to hamper output and affect the livelihoods of cocoa farmers. He pledged the Finance Ministry’s unwavering support for COCOBOD as it embarks on this turnaround agenda.
The Chairman of the newly inaugurated board, Dr. Samuel Ofosu Ampofo, promised to reset, retool, and reposition COCOBOD as a model institution.
Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.
