Finance Minister, Dr. Cassiel Ato Forson, has revealed plans to acquire 200,000 hectares of land for cocoa plantations.
The initiative aims to revive the country’s struggling cocoa sector and boost production to 1 million metric tonnes.
At the swearing-in of the new 11 member Board of Directors for the Ghana Cocoa Board (COCOBOD) the finance minister emphasized the need for bold action to address the sharp decline in cocoa production from 1 million to 500,000 metric tons.
He reaffirmed the government’s commitment to making cocoa a cornerstone of the economy again.
“Cocoa has always been the mainstay of our economy, and that must not change. Unfortunately, massive mismanagement in recent years has led to a worrying downturn in both production and financial stability. It is time to act decisively” he said.
He revealed that government’s plans to establish plantation farms by acquiring 200,000 hectares of land for cocoa production.
This he noted will boost output and complement small holder farmers, driving sustainable growth in the sector.
Dr. Forson said plans are underway to address diseased farms, especially in the Western Region, to boost cocoa output and protect farmers’ livelihoods.
He also assured the Finance Ministry’s support for COCOBOD’s turnaround agenda.
Newly appointed board Chairman, Dr. Samuel Ofosu Ampofo, vowed to transform COCOBOD into a model institution through resetting, retooling, and repositioning.
