Accra: The Minister of Finance, Dr Cassiel Ato Forson, has announced plans by the government to revive the Cocoa Processing Company (CPC) and position it as Ghana's leading cocoa processor. Speaking at a press briefing, Dr Forson underscored the crucial role CPC plays in the country's cocoa industry.
According to Ghana Web, Dr Forson explained that the revival comes at a time when the government is determined to strengthen the cocoa value chain, boost production capacity, and create more jobs. 'Reviving CPC is a strategic step to strengthen our cocoa value chain. By processing more cocoa locally, we add value to our produce, create jobs, and ensure that Ghana benefits more from its resources,' he said.
The government has also instructed the Ghana Cocoa Board (COCOBOD) to begin repayment to affected cocoa farmers as part of the revival plan. The plan includes operational upgrades, expansion of production capacity, and reforms aimed at improving efficiency. Dr Forson added that the government envisions CPC not only as a processor but also as a benchmark for sustainable and competitive cocoa processing in Ghana.
Ghana, known as the world's second-largest cocoa producer, has historically exported most of its cocoa beans in raw form. According to the government, this model limits the country's potential earnings and leaves it vulnerable to global price fluctuations. Dr Forson stressed that the initiative would reduce raw cocoa exports, promote local processing, and ensure that Ghana derives maximum benefit from its cocoa resources.