Gov’t set to acquire 200,000 hectares to revive cocoa industry – Ato Forson
The government is embarking on a bold initiative to acquire 200,000 hectares of land for large-scale cocoa plantations in a bid to revive Ghana’s struggling cocoa industry and restore annual production to one million metric tonnes.
This was announced by Finance Minister Dr. Cassiel Ato Forson at the inauguration of a new 11-member Board of Directors for the Ghana Cocoa Board (COCOBOD) in Accra.
Dr. Forson described cocoa as the bedrock of Ghana’s economy and stressed the urgent need for decisive action to address the steep decline in production and the sector’s financial instability.
“Cocoa has always been the mainstay of our economy, and that must not change. Unfortunately, massive mismanagement in recent years has led to a worrying downturn. It is time to act decisively,” he said.
Ghana’s cocoa output has dropped significantly from a peak of one million metric tonnes to around 500,000 metric tonnes in recent years, a trend that has raised alarm about the sustainability of the sector and its economic impact.
To turn the tide, the government, through COCOBOD, will establish large-scale plantation farms across the country to complement smallholder farmers, increase national output, and create thousands of jobs.
The Finance Minister also emphasized the urgent need to rehabilitate disease-stricken farms, particularly in the Western Region, where swollen shoot disease has destroyed vast cocoa fields and affected countless livelihoods.
In line with new legal reforms, both the Finance Minister and the Governor of the Bank of Ghana will now serve on COCOBOD’s Board , a move Dr. Forson says will ensure stronger oversight and accountability.
He pledged the full support of the Finance Ministry to help implement the Board’s turnaround strategy.
The newly inaugurated Board, chaired by Dr. Samuel Ofosu Ampofo, has committed to “reset, retool, and reposition COCOBOD as a model institution” to restore Ghana’s global reputation in cocoa production.
This renewed focus on cocoa comes amid growing global concern over supply shortages and price volatility.
Government officials hope that through strategic investments in plantations and sector-wide reforms, Ghana can reclaim its position as a world leader in cocoa production.