Ghana aims for 100% local cocoa processing by 2030
Finance Minister Cassiel Ato Forson urged international buyers to add value in Ghana, as the government plans to process all cocoa domestically.
Ghana plans to process all its cocoa beans domestically by 2030, phasing out raw bean exports, according to Finance Minister Dr Cassiel Ato Forson. He urged international buyers to process beans in Ghana, stating that the country must move beyond exporting raw materials. The government aims to increase local processing to 50% by 2028 and 100% by 2030.
Dr Forson presented the 2027 Budget to Parliament on Thursday, explaining that Ghana's historical financing model encouraged shipping beans abroad, allowing other economies to benefit from processing. He cited a visit to Bangkok for the World Bank–IMF Annual Meetings, where he saw products like chocolate and cocoa cognac made from cocoa. The new Cocoa Board Act, which has gone to Parliament, mandates that the Cocoa Board must process 50% of its cocoa locally.
A Legislative Instrument will detail the timeline for reaching full local processing, with a target of 100% by 2030. Discussions are underway for a proposed arrangement involving 500,000 metric tonnes of cocoa for local value addition, with Dangote reportedly interested in using Ghana as a processing hub. Dr Forson also highlighted that Ghana spends US$3.5 billion annually on food imports, arguing that investing in commercial agriculture and local processing will better utilize the country's resources and retain value within the economy.
Why it mattersGhanaian traders will no longer export raw cocoa beans by 2030, with a target of 50% local processing by 2028.