President John Dramani Mahama has called for a shift in focus from exporting raw cocoa beans to producing and exporting higher-value cocoa products locally, emphasising that Ghana’s cocoa industry must undergo a transformative change.
Speaking at the Ghana Tree Crop Investment Summit in Accra on Tuesday, President Mahama said that while Ghana remains the largest exporter of raw cocoa beans, this should not be considered an accolade.
“We should take pride not in exporting raw beans but in being the leading exporter of manufactured cocoa products. This crisis must mark a turning point in our cocoa industry,” he stated.
He explained that under the current system, cocoa beans are collateralised to secure funding for purchases and exports. “Because of this, we cannot allocate enough beans to our local processing facilities,” President Mahama noted.
To address this, the government has indicated changing the cocoa funding cycle by raising money locally, paying farmers directly, and reserving a portion of beans for domestic processing. The plan also includes expanding local processing capacity to create jobs and stabilise cocoa prices.
The president’s remarks come amid ongoing financial challenges in the cocoa sector. On February 16, 2026, the Ghana Cocoa Board (COCOBOD) announced salary reductions for its Executive Management and Senior Staff to address liquidity pressures.
Executives are taking a 20 percent cut, while senior staff have accepted a 10 percent reduction. COCOBOD stated that these measures are part of wider cost-cutting efforts, including procurement reforms and staff rationalization, aimed at improving efficiency and aligning operational costs with current revenue.
Dr Randy Abbey, Chief Executive of COCOBOD, said the pay cuts and other reforms were necessary to help the cocoa sector navigate financial pressures while maintaining stability and competitiveness.
President Mahama emphasised that the ongoing crisis presents an opportunity for Ghana to strengthen its cocoa value chain, generate more local jobs, and ensure that the country benefits fully from the products it produces.
