The Mahama-led administration has reaffirmed its commitment to using syndicated loans to fund cocoa purchases for the upcoming season, despite ongoing discussions with the Ghana Cocoa Board (COCOBOD) to explore more sustainable financing alternatives for the cocoa sector.
For years, Ghana has relied on syndicated loans from a consortium of international banks to pre-finance its cocoa purchases at the start of each season, a system that has long supported cocoa production and sustained the livelihoods of thousands of farmers across the country.
Speaking to journalists after the announcement of a new producer price for cocoa on Monday, August 4, 2025, Minister of Finance Dr Cassiel Ato Forson clarified that the government will maintain the same financing model used in 2024.
“Nothing has changed. We will continue financing cocoa in the same way as it was financed in the last crop season [2024]. We’ll finance it as we financed the immediate past crop season,” he emphasised.
The announcement coincided with a significant increase in the producer price for the 2025/2026 season, as the government raised the price from US$3,100 to US$5,040 per tonne, a sharp 62.58% jump in dollar terms.
FKA/MA
