COCOBOD inaugurates committees to boost transparency, education, and market integrity in cocoa sector
The Ghana Cocoa Board establishes three new committees to strengthen governance, financial discipline, and educational support in the cocoa industry.
GHANA – The Ghana Cocoa Board (COCOBOD) has inaugurated three key sub-committees aimed at enhancing transparency, accountability, and educational empowerment within Ghana’s cocoa sector.
The committees — the Finance Committee, the Cocoa Tertiary Education Trust and Scholarship Committee, and the Cocoa Sector Marketing Committee (COSMARC) — were inaugurated by the Board Chairman, Dr. Samuel Ofosu-Ampofo, as part of ongoing efforts to reinforce efficiency and sustainability across the cocoa value chain.
Speaking at the inauguration, Dr. Ofosu-Ampofo described the formation of the committees as a vital step toward realizing President Mahama’s Reset Agenda, which seeks to revive and transform the cocoa industry.
He emphasized the Board’s commitment to restoring discipline, sustainability, and efficiency in every aspect of COCOBOD’s operations.
According to him, the Finance Committee, chaired by Deputy Minister of Finance, Thomas Ampem Nyarko, will focus on promoting fiscal prudence and effective financial management amid prevailing economic challenges.
He noted that with COCOBOD’s debt estimated at GHS 32 billion, the committee’s role in restoring financial stability and public confidence is critical to the institution’s long-term growth.
Dr. Ofosu-Ampofo further explained that the newly established Cocoa Tertiary Education Trust Fund, under the leadership of Bank of Ghana Governor, Dr. Johnson Asiama, will support tertiary and vocational education for children of cocoa farmers and workers.
The initiative aims to equip young people in cocoa-growing communities with the knowledge and skills needed to sustain the industry.
“Education has always been a foundation of Ghana’s progress. Through this Trust Fund, we are empowering the next generation to drive the future of cocoa production,” he stated.
He encouraged committee members to engage directly with farmers to understand their challenges and develop responsive policies that address their needs.
The Cocoa Sector Marketing Committee (COSMARC), chaired by Member of Parliament for Bodi, Sampson Ahi, will oversee transparency and fairness in cocoa marketing.
The committee will review the performance of Licensed Buying Companies (LBCs), monitor market trends, and propose policies to enhance competitiveness and integrity within the sector.
Dr. Ofosu-Ampofo commended all committee members for their expertise and dedication, urging them to uphold integrity and accountability in their work.
COCOBOD Chief Executive, Dr. Randy Abbey, lauded the initiative as a strategic step toward building a resilient and inclusive cocoa economy. He reaffirmed management’s commitment to supporting the committees’ objectives.
Ghana projects a cocoa output of 650,000 metric tons for the 2025/26 crop year, up from 600,000 tons in the previous season.
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