President John Dramani Mahama has announced plans to introduce legislation that will guarantee Ghanaian cocoa farmers at least 70 per cent of the world market price for their produce, a move aimed at improving farmer incomes and strengthening the country’s cocoa value chain.
Speaking at the opening of the 2026 Ghana–European Union Partnership Dialogue in Accra, President Mahama disclosed that the bill would be presented to Parliament in the coming weeks.
The proposed law will also require that 50 per cent of Ghana’s cocoa output be processed locally, creating jobs and boosting industrialisation.
According to the President, cocoa farmers deserve a fairer share of the wealth generated from the sector and must benefit more directly from rising global cocoa prices.
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“The objective is to ensure that our farmers receive a just reward for their hard work while positioning Ghana to maximise the value of its cocoa industry,” he stated.
The President explained that the legislation forms part of a broader government strategy to transform agriculture, enhance local manufacturing, and create sustainable employment opportunities, particularly for young people.
He also revealed that the government has cleared the way for the Ghana Cocoa Board (COCOBOD) to secure local financing to purchase cocoa beans for the upcoming crop season.
President Mahama praised the European Union for its continued support to Ghana’s cocoa sector, particularly in tackling cocoa swollen shoot disease and strengthening sustainability initiatives. However, he stressed that Ghana must move beyond the export of raw cocoa beans and focus on value addition through local processing and industrial development.
Beyond cocoa, the President called for a deeper and more strategic partnership between Ghana and the European Union, driven by investment, trade, innovation, and industrial growth rather than traditional aid.
He noted that Ghana’s economy is showing encouraging signs of recovery, citing declining inflation, improved foreign exchange reserves, growing investor confidence, and increased activity across key sectors.
President Mahama said flagship initiatives such as the government’s 24-hour economy policy and accelerated export development programme are designed to expand production, increase exports, and create jobs for the country’s growing youth population.
Addressing the issue of critical minerals and the global green transition, the President urged African countries to end the practice of exporting raw materials while importing finished products.
“Africa must industrialise and add value to its resources if it is to secure long-term economic prosperity,” he said.