President-Elect Mahama plans to reform cocoa sector, restructure regulator

Ghana’s president-elect, John Dramani Mahama, has pledged to reform the cocoa sector and restructure COCOBOD to boost efficiency and support farmers directly.

Speaking to Reuters, Mahama criticized COCOBOD’s dual role as a regulator and profit competitor, proposing reforms to prioritize farmers' earnings and involve the private sector in certain areas.

Ghana’s cocoa production recently hit historic lows due to climate change, disease, and illegal mining, compounded by COCOBOD’s wasteful spending, which tripled administrative costs between 2018 and 2023. Mahama emphasized increasing efficiency across the value chain to benefit farmers while reducing bureaucracy.

His government, backed by a parliamentary majority, will focus on revamping cocoa and oil production to drive growth and boost revenue. The reforms align with IMF-supported turnaround plans under Ghana’s $3 billion rescue package.