By AfricanSpy | February 14, 2026
President John Dramani Mahama has announced major policy decisions affecting Ghana’s cocoa sector and mining industry, outlining sweeping reforms aimed at stabilising the economy, strengthening local industries, and creating jobs.
Speaking at a high-level policy event, the President addressed the newly announced cocoa producer price adjustments and reiterated his government’s commitment to ending the export of raw mineral resources by 2030.
New Cocoa Producer Price Announced
Government has revised the cocoa producer price for the remainder of the 2025/2026 crop season to GH¢41,392 per tonne, equivalent to GH¢2,587 per 64kg bag.
The price adjustment follows global market volatility, liquidity challenges in the cocoa sector, and delays in payments to farmers. Authorities say the move is part of efforts to make Ghanaian cocoa competitive on the international market while ensuring farmers receive timely payments.
Major Reforms in the Cocoa Sector
President Mahama outlined far-reaching reforms aimed at transforming Ghana’s cocoa industry, including:
Introducing a new domestic financing model through cocoa bonds to reduce reliance on foreign syndicated loans
Ensuring cocoa farmers receive at least 70% of the Free-on-Board (FOB) export price
Increasing local cocoa processing to at least 50% by the 2026/2027 season
Revamping the Cocoa Processing Company and strengthening COCOBOD’s operations
The government says these reforms will deepen value addition, create jobs, and increase Ghana’s share of global cocoa value chains.
No Export of Raw Minerals by 2030
In a bold industrialisation agenda, President Mahama declared that Ghana will stop exporting raw mineral ores by 2030, including manganese, bauxite, and iron ore.
He emphasised that Ghana must move beyond exporting unprocessed resources and instead build domestic capacity for refining and manufacturing to maximise economic benefits.
According to the President, processing raw materials locally will help create jobs, boost industrial growth, and strengthen Ghana’s economy.
Political Reactions and Debate
The cocoa price reduction has triggered mixed reactions across the political divide. While some stakeholders have welcomed the reforms, opposition lawmakers have criticised the price cut, describing it as detrimental to farmers’ livelihoods and calling for accountability at COCOBOD.
Economic Implications
Analysts say the reforms, if implemented effectively, could mark a turning point in Ghana’s economic transformation, shifting the country from a raw material exporter to a value-added industrial economy.
However, concerns remain about farmer incomes, implementation challenges, and resistance from global mining and cocoa stakeholders.
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