Finance Minister Dr Cassiel Ato Forson told Parliament on Thursday that Ghana must stop exporting raw cocoa beans and start processing them domestically. The minister said the country should aim for 50% local processing by 2028 and 100% by 2030.
In an interview following the presentation of the 2027 Budget, Forson explained that Ghana’s existing financing model has historically encouraged the sale and shipment of beans abroad, allowing other economies to reap the benefits of processing. He urged buyers to “come and buy our cocoa beans, but add value here in Ghana.”
Forson cited his recent visit to the World Bank–IMF Annual Meetings in Bangkok, where he was “shocked by what they've done with cocoa,” noting products ranging from chocolate to cocoa cognac. He said the new Cocoa Board Act already mandates that the Cocoa Board produce 50% of its cocoa locally, and that a Legislative Instrument will set the timetable for reaching full local processing by 2030.
He also revealed discussions on a proposed arrangement that would see 500,000 metric tonnes of cocoa processed locally, with Dangote identified as an interested investor who has reached out to use Ghana as a hub for cocoa processing.
Forson framed the cocoa initiative as part of a broader push to modernise agriculture and reduce dependence on imported food. He highlighted that Ghana spends about US$3.5 billion annually on food imports and questioned why the country continues to import staples such as palm oil, sugar, rice, chicken and vegetables. He also suggested that more land could be used to grow soybean and maize to support the poultry industry.
For Forson, investing in commercial agriculture and local processing offers a way to better utilise Ghana’s land, water resources and youthful population while keeping more value within the economy.
