YADD Ghana Urges Entrenchment of COCOBOD Reforms to Secure Cocoa Sector’s Future

Story by Fada Amakye

The Youth Alliance for Democratic Development (YADD) Ghana is calling for the entrenchment of the new COCOBOD Bill to ensure long-term sustainability and transparency in the cocoa sector. The reforms, announced by the Government of Ghana, include a new financing module for COCOBOD, automatic producer price adjustment, and plans to process 50% of cocoa beans locally for value addition.

YADD Ghana Executive Director, J. K. Martey-Nitse, emphasized the need for transparency and parliamentary scrutiny of the financing arrangements, as well as clear limits on collateralization of future cocoa proceeds. The organization also supports the automatic adjustment of producer prices up to 70% of the world market price, citing its potential to protect farmers from price manipulation and ensure they benefit fairly from high global prices.

The reforms are expected to drive industrialization, create jobs for Ghanaian youth in manufacturing, logistics, packaging, and marketing, and increase foreign exchange retention. YADD Ghana is urging stakeholders, including government, Parliament, farmer associations, youth groups, and civil society, to work collaboratively to ensure the reforms deliver transparency, fairness, and sustainable development.

The cocoa sector remains a pillar of Ghana’s economy, and these reforms are crucial for its long-term sustainability. By working together, stakeholders can ensure the sector continues to benefit millions of citizens and contribute to the country’s economic growth.

YADD Ghana believes the entrenchment of the COCOBOD Bill is essential to safeguard producer pricing mechanisms, protect long-term sector reforms, and ensure policy stability and investor confidence.