‘Come and buy our cocoa beans, but add value here in Ghana’ –Ato Forson

Finance Minister Dr. Cassiel Ato Forson has called on international cocoa buyers to invest in processing beans within Ghana instead of exporting them for processing elsewhere. Speaking after presenting the 2027 Budget to Parliament, Dr. Forson emphasized the need for Ghana to transition from raw bean exports to adding value locally.

"We are not saying don’t come and buy our cocoa beans, but if you are a company out there, come and buy our cocoa beans, but add value here in Ghana," he stated. The minister argued that the country's reliance on importing finished food products, such as sugar, rice, and vegetables, at an annual cost of $3.5 billion, is unsustainable.

Dr. Forson pointed to a recent visit to Bangkok for the World Bank–IMF Annual Meetings, where he was impressed by the value-added cocoa products being produced, such as chocolate and cocoa cognac. He also mentioned that the new Cocoa Board Act, which requires Cocoa Board to process 50% of its cocoa locally, has been passed by Parliament.

A follow-up Legislative Instrument will set a timeline for achieving full processing locally by 2030. Discussions are ongoing about a proposed arrangement involving 500,000 metric tonnes of cocoa for local processing, with Dangote identified as a potential investor. The minister's push for local processing is part of a broader strategy to modernize agriculture and reduce dependency on imported food.