The Ghanaian government has unveiled plans to acquire 200,000 hectares of land for cocoa plantations. This initiative aims to revitalize the country's cocoa sector and restore production levels to one million metric tonnes. The announcement was made by Dr. Cassiel Ato Forson, the Minister for Finance, during the inauguration of a new eleven-member Board of Directors for the Ghana Cocoa Board (COCOBOD) at the Ministry of Finance.
Dr. Forson emphasized the necessity for bold actions to counteract the significant decline in cocoa production, which has dropped from a peak of one million metric tonnes to approximately 500,000 metric tonnes in recent years. As a member of the COCOBOD Board due to a new legal requirement that includes both the Finance Minister and the Governor of the Bank of Ghana, Dr. Forson reiterated the government's dedication to reestablishing cocoa as a vital part of Ghana's economy.
"Cocoa has always been the mainstay of our economy, and that must not change," he stated. "Unfortunately, massive mismanagement in recent years has led to a worrying downturn in both production and financial stability. It is time to act decisively."
The government plans to collaborate with COCOBOD to establish plantation farms by acquiring about 200,000 hectares of cocoa land. This strategy is intended to significantly increase production levels while complementing existing smallholder farmer operations and ensuring sustainable growth within the sector.
Dr. Forson also addressed the urgent need to deal with diseased farms, particularly in Ghana's Western Region, which continue to hinder output and impact farmers' livelihoods. He assured that the Finance Ministry would provide steadfast support for COCOBOD's efforts towards this turnaround agenda.
Dr. Samuel Ofosu Ampofo, Chairman of the newly inaugurated board, committed to resetting, retooling, and repositioning COCOBOD as a model institution.
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