Accra: The Deputy Finance Minister, Thomas Nyarko Ampem, has presented the Ghana Cocoa Board Bill, 2026, to Parliament, emphasizing that the legislation will ensure cocoa farmers receive not less than 70% of the Free on Board (FOB) export price. This initiative is part of a broader effort to introduce comprehensive reforms within the cocoa sector.
According to Ghana Web, Ampem, speaking on the floor of Parliament, outlined that the Bill will officially establish the Ghana Cocoa Board (COCOBOD) as the statutory body responsible for the regulation, oversight, and monitoring of all activities within the cocoa value chain. The Bill is set to be passed on Thursday, July 30, 2026, and aims to bring transformative changes to the industry.
Ampem highlighted that the legislation introduces a new funding model, empowering COCOBOD to obtain funds locally to purchase cocoa beans from farmers. This approach is designed to ensure that a greater quantity of beans is accessible to local processing companies, thereby boosting the domestic cocoa processing industry.
'This Bill is coming out with a new funding model, which will let COCOBOD source funding locally to purchase our cocoa beans from our hardworking farmers,' Ampem stated. Furthermore, he emphasized that the Bill's new arrangements will make cocoa beans more readily available for local processing companies.
The Bill is not only focused on financial aspects but also on environmental conservation. Ampem noted, 'The Bill is to protect our cocoa farms and environment,' underscoring the legislation's commitment to safeguarding both the agricultural and ecological landscapes of Ghana.