Government has directed the Ghana Cocoa Board (COCOBOD) to pay start defraying all debts owed cocoa farmers in the country.
Finance Minister, Dr. Cassiel Ato Baah Forson, during a press briefing on Thursday, February 12, 2026, which detailed the outcome of an emergency Cabinet meeting constituted by President John Dramani Mahama on Wednesday, February 11, noted that the initiative is to help bring relief to cocoa farmers.
The Cabinet meeting was necessitated by the delay of payment to cocoa farmers and others on the value-chain which has brought serious concerns for the past few months.
“To bring relief to cocoa farmers, Cabinet has accordingly, directed the Ghana Cocoa Board, to commence immediate payment of all affected cocoa farmers,” he stated.
Aside from paying the farmers, the Minister also indicated that government is going to present a new bill in Parliament for an automatic adjustment of cocoa price.
“A new COCOBOD bill will be presented to Parliament to implement an automatic adjustment of producer price, to allow movement in the world market price, exchange rate, and other key variables, and guarantees a minimum of 70 per cent of gross FOB price to be paid the cocoa farmer,” he explained.
In his presentation, Dr. Forson explained that the challenges currently facing the sector is as a result of poor management by their predecessors which he noted required an urgent and comprehensive reforms to fix the sector.
“A careful review of the cocoa sector over the last eight years revealed gross mismanagement, which requires immediate and comprehensive reforms to address the challenges in the sector.
He explained that the proposed reforms which he assured were going to be implemented head-on, is “to guarantee a fair price to the cocoa farmer, secure the financial viability of the cocoa sector, and ensure the long term sustainability of the cocoa industry.”
