Ghana has initiated the transfer of cocoa board supervision from agricultural authorities to the finance ministry in an effort to enhance fiscal oversight of the struggling export sector. Officials aim to address mounting debt and declining production through centralized financial management.
Production volumes have recovered after dropping below 531,000 metric tonnes, with projections targeting 650,000 metric tonnes through government investments in pest control and fertilizer distribution. Finance Minister Ato Forson reported that outstanding obligations decreased from GH¢32.0 billion to GH¢20.6 billion, while road infrastructure debt fell to GH¢6.9 billion following rationalization measures.
Legislative amendments to the 1984 Cocoa Board Act will formalize the ministry transition, positioning the finance sector to manage rollover contracts, smuggling prevention, and farm gate pricing that recently increased to GH¢58,000 per metric tonne.
Production volumes have recovered after dropping below 531,000 metric tonnes, with projections targeting 650,000 metric tonnes through government investments in pest control and fertilizer distribution. Finance Minister Ato Forson reported that outstanding obligations decreased from GH¢32.0 billion to GH¢20.6 billion, while road infrastructure debt fell to GH¢6.9 billion following rationalization measures.
Legislative amendments to the 1984 Cocoa Board Act will formalize the ministry transition, positioning the finance sector to manage rollover contracts, smuggling prevention, and farm gate pricing that recently increased to GH¢58,000 per metric tonne.
