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Ghana's Cocoa Industry Reform 'Is the Way to Go': Sector Consultant
Ghana's Cocoa Industry Reform 'Is the Way to Go': Sector Consultant
Sputnik Africa
President John Mahama unveiled a major reset of Ghana's cocoa sector recently, vowing to end dependence on exploitative foreign loans and pivot toward local... 19.02.2026, Sputnik Africa
2026-02-19T15:15+0100
2026-02-19T15:15+0100
2026-02-19T15:15+0100
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Ghana's Cocoa Industry Reform 'Is the Way to Go': Sector Consultant
Sputnik Africa
President John Mahama unveiled a major reset of Ghana's cocoa sector recently, vowing to end dependence on exploitative foreign loans and pivot toward local processing to increase revenue.
Under the new arrangement, Ghana will raise funds by issuing domestic bonds in Ghanaian cedis to purchase cocoa directly from farmers. This eliminates the long-standing practice of pledging the beans as collateral for foreign loans—a system that left the country vulnerable to market fluctuations and limited its ability to process cocoa at home.According to officials, ending the collateral model will immediately unlock 400,000 tonnes of cocoa beans that were previously tied up in financing deals. These beans will now be diverted to local processors, a move expected to create thousands of jobs and retain significantly more value within Ghana's economy.For a deeper look into the policy shift, African Currents spoke with Dr. Emmanuel Opoku, a Ghana-based cocoa industry consultant.Want to hear more from our guest? Catch the full conversation on the African Currents podcast, brought to you by Sputnik Africa.Find our episodes not just on the website, but also on Telegram.► You can also stream our podcast on Apple Podcasts, Spotify, Deezer, Pocket Casts, Afripods, Podcast Addict.► Check out all the episodes of African Currents.
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Ghana's Cocoa Industry Reform 'Is the Way to Go': Sector Consultant
President John Mahama unveiled a major reset of Ghana's cocoa sector recently, vowing to end dependence on exploitative foreign loans and pivot toward local processing to increase revenue.
Under the new arrangement, Ghana will raise funds by issuing domestic bonds in Ghanaian cedis to purchase cocoa directly from farmers. This eliminates the long-standing practice of pledging the beans as collateral for foreign loans—a system that left the country vulnerable to market fluctuations and limited its ability to process cocoa at home.
According to officials, ending the collateral model will immediately unlock 400,000 tonnes of cocoa beans that were previously tied up in financing deals. These beans will now be diverted to local processors, a move expected to create thousands of jobs and retain significantly more value within Ghana's economy.
For a deeper look into the policy shift, African Currents spoke with Dr. Emmanuel Opoku, a Ghana-based cocoa industry consultant.
"So, what the president has done is the right thing to do. Ghana can do it because we are using cedis to purchase the cocoa. So, with that declaration by the president, what it means is that the government is fully aware that they have to make the money available. You know, cocoa, just like gold [...]. It's just like when the government decided to use the local currency, cedis, to buy gold, and it worked. So, doing the same thing for cocoa will work, and I think that decision must be applauded. But the truth is that once the cocoa is processed locally, you have added value [...]. I think the government's plan is the way to go," Dr. Opoku said.
Want to hear more from our guest? Catch the full conversation on the African Currents podcast, brought to you by
Sputnik Africa.Find our episodes not just on the website, but also on
Telegram.► Check out all the episodes of African Currents. 
