The President of the Licensed Cocoa Buyers Association of Ghana, Samuel Adimado, has urged farmers to remain patient and engage with sector leaders following the government’s new measures to address the cocoa sector’s financing challenges.
Speaking in response to reforms announced by the Finance Minister, Samuel Adimado said farmers would be engaged by COCOBOD and other stakeholders as the changes take effect.
“My appeal will go to the farmers to have patience and ask questions. Their leadership will also be engaged,” he said, adding that COCOBOD would reach out to producers as part of the implementation process.
He expressed confidence in the government’s directive to increase local processing of cocoa beans, noting that Ghana already has substantial processing capacity.
“If you look at the profile of processors we have here, including multinational companies with significant investments, it presents an opportunity for them to utilise their facilities by processing more cocoa locally,” he said.
Cabinet has directed that at least 50% of Ghana’s cocoa beans be processed locally from the 2026/27 crop season, as part of broader reforms aimed at stabilising the sector and improving value addition.
President of the Licensed Cocoa Buyers Association of Ghana, described the reforms as an opportunity to rethink long-standing practices in the industry.
“You cannot continue to do the old things and expect new results,” he said, suggesting that the shift in financing and marketing arrangements could help address structural weaknesses in the sector.
On the government’s decision to move away from the previous syndicated loan model towards alternative financing arrangements, Mr Adimado said he did not see merit in returning to a system that had failed to deliver adequate resources.
“As a professional, I don’t see any sense in going back to something that did not give you the resources,” he said. However, he acknowledged that policies could be reviewed and refined if circumstances change.
He also backed plans to refocus COCOBOD on its core mandate, warning that any deviation from established rules could attract sanctions under the new policy framework.
“The minister has made it clear stick to your core business. If you decide otherwise, there are punitive measures,” he said, describing the approach as a healthy step toward restoring discipline and accountability in the sector.
The government has announced a series of reforms, including debt restructuring, increased local processing and stricter oversight of COCOBOD’s operations, as it seeks to stabilise Ghana’s cocoa industry amid falling global prices and mounting financial pressures.
Source: www.kumasimail.com
