Ghana has announced plans to fundamentally restructure its cocoa industry, targeting the domestic processing of at least 50 per cent of its cocoa beans by 2028 and 100 per cent by 2030, in a major policy shift aimed at retaining more economic value from one of its most important agricultural commodities.
The targets, announced by Finance Minister Dr. Cassiel Ato Forson during the presentation of the 2027 Budget Statement and Economic Policy to Parliament as part of the government’s broader strategy to expand agro-industrial production, strengthen domestic enterprises and create employment through value addition.
The policy signals a departure from Ghana’s longstanding dependence on exporting substantial volumes of raw cocoa beans for processing in foreign markets, with the government seeking to establish a more comprehensive domestic industry spanning primary processing, manufacturing and finished consumer products.
“Ghana will process at least 50 per cent of its cocoa locally by 2028 and 100 per cent by 2030, completing the transition towards a ban on raw cocoa exports,” Dr Forson told Parliament.
The Minister for Finance, Hon. Dr. Cassiel Ato Forson
Moving Beyond Raw Cocoa Exports
Under the proposed strategy, Ghana intends to expand its processing capacity beyond conventional cocoa grinding to produce cocoa liquor, butter, cake and powder, while developing manufacturing opportunities in chocolate, cosmetics and other cocoa-based products.
These products represent different stages of the cocoa value chain, each offering opportunities to generate additional revenue, attract investment and develop specialised industries.
Cocoa liquor, produced by grinding roasted cocoa beans, serves as a primary ingredient for chocolate manufacturing. Further processing separates the liquor into cocoa butter and cocoa cake, with the latter subsequently ground into cocoa powder.
Cocoa butter is widely used in chocolate production, cosmetics and pharmaceutical applications, while cocoa powder serves the food, beverage and confectionery industries.
Moving further into these markets would allow Ghanaian companies to participate in industries that traditionally capture substantial economic benefits from the country’s agricultural production.
The Finance Minister argued that the country producing the beans should retain a greater proportion of the value generated by the global cocoa industry.
“The country that grows the bean must retain a far greater share of the industry built around it.”
Minister for Finance, Dr. Cassiel Ato Forson
The ambition forms part of the government’s New Economy programme, which includes a US$3 billion commercial agriculture investment pillar targeting eight priority value chains, including rice, sugar, poultry, maize and soya, aquaculture, oil palm, vegetables and cocoa value addition.
Processing Capacity and Investment Opportunities
The government has also begun engaging private-sector investors to expand the country’s industrial capacity.
Speaking after presenting the 2027 Budget, Dr. Forson disclosed that international interest in Ghana’s cocoa processing ambitions was growing, including discussions with the Dangote Group over a proposed arrangement involving 500,000 metric tonnes of cocoa for local processing.
He indicated that the terms were still under consideration, making the proposed arrangement an investment prospect rather than a concluded agreement.
The Finance Minister also encouraged international cocoa buyers to establish or expand processing operations in Ghana instead of purchasing beans exclusively for shipment to overseas factories.
“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.”
Minister for Finance, Dr. Cassiel Ato Forson
Sector Reforms and the Road to 2030
The proposed transformation comes at a critical period for Ghana’s cocoa industry, which has experienced production difficulties, financial pressures and fluctuations in international commodity prices.
According to the Ministry of Finance, Ghana’s cocoa production projection for the 2024/2025 season was revised downwards from 650,000 metric tonnes to 605,000 metric tonnes, partly because of smuggling and the hoarding of beans in anticipation of improved prices.
The proposed amendments to the cocoa regulatory framework, including the new Cocoa Board Act discussed by Dr Forson, are expected to provide legislative backing for increased domestic processing. The Minister indicated that a Legislative Instrument would establish the implementation timetable.
For Ghana, achieving the 2028 and 2030 milestones will therefore require coordinated action across agricultural production, industrial financing, infrastructure, regulation and market development.
Beyond increasing the quantity of cocoa processed locally, the ultimate test will be whether the transformation creates competitive Ghanaian brands, expands manufacturing exports, generates skilled employment and improves economic opportunities for cocoa-growing communities.
The ambition is to reposition cocoa from primarily an export commodity into a stronger foundation for domestic manufacturing and industrial growth, ensuring that a greater share of the wealth generated from Ghana’s cocoa is retained within the national economy.
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