Close Menu
John Mahama News
  • Home
  • Ghana News
  • Anti-Corruption
    • Corruption Watch
  • Economic
    • Education & Innovation
  • Environmental
    • Governance & Policy
  • Health & Welfare
    • Historical & Cultural Insights
    • Infrastructure & Development
    • International Relations
  • Ministerial News
    • Presidential Updates
  • Public Opinion
    • Regional Governance
      • Social Issues & Advocacy
      • Youth & Sports
What's Hot

World’s oldest climate fund targets wildlife bonds for every country in Africa

July 19, 2025

Navigating the Fallout of Ukraine’s Alleged Involvement in Sahel Conflicts

July 19, 2025

Over 13 countries ready to hire Ghanaian health workers under new migration plan – Health Minister

July 19, 2025
Facebook X (Twitter) Instagram
Trending
  • World’s oldest climate fund targets wildlife bonds for every country in Africa
  • Navigating the Fallout of Ukraine’s Alleged Involvement in Sahel Conflicts
  • Over 13 countries ready to hire Ghanaian health workers under new migration plan – Health Minister
  • Data must be treated as “core infrastructure” to achieve SDG 8 – Government Statistician
  • American woman reunites with Ghanaian father after 21 years
  • 2025 NPP National Delegates Conference
  • Here are key proposals for reforms at NPP National Delegates Conference today
  • 59 proposals: Why the NPP is overhauling its constitution
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram
John Mahama News
Saturday, July 19
  • Home
  • Ghana News
  • Anti-Corruption
    • Corruption Watch
  • Economic
    • Education & Innovation
  • Environmental
    • Governance & Policy
  • Health & Welfare
    • Historical & Cultural Insights
    • Infrastructure & Development
    • International Relations
  • Ministerial News
    • Presidential Updates
  • Public Opinion
    • Regional Governance
      • Social Issues & Advocacy
      • Youth & Sports
John Mahama News
Home » World Bank urges governance reforms to rescue Ghana’s struggling cocoa sector

World Bank urges governance reforms to rescue Ghana’s struggling cocoa sector

johnmahamaBy johnmahamaFebruary 16, 2025 Infrastructure & Development No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Ghana’s cocoa sector, a cornerstone of the nation’s economy, has been faltering over the years with cocoa output for the 2023/24 falling to its lowest since 2016.

The Ghana Cocoa Board (COCOBOD), the state-owned entity tasked with managing the industry, is grappling with financial instability, prompting the World Bank to call for urgent governance reforms.

In its latest Public Finance Review report, titled “Building the Foundations for a Resilient and Equitable Fiscal Policy”, the World Bank outlines a comprehensive turnaround strategy for COCOBOD. Key recommendations include consolidating expenditures, streamlining cocoa road projects, phasing out fertilizer subsidies, reforming the Producer Price Review Mechanism, and enforcing stricter fiscal discipline.

COCOBOD, which oversees the purchase, marketing, and export of cocoa beans, has faced significant financial challenges in recent years. After six consecutive years of losses, the board reported a profit of 2.3 billion cedis for the 2022/23 season. However, this recovery remains fragile, as high operational costs and the financial burden of quasi-fiscal programmes—such as fertilizer subsidies and cocoa road projects—continue to weigh heavily on its balance sheet.

While these initiatives were designed to support farmers and improve infrastructure, their implementation has led to significant financial liabilities. The World Bank warns that without decisive action, these programmes could further destabilize COCOBOD and, by extension, Ghana’s cocoa sector.

The World Bank’s report underscores the need for bold and immediate reforms to restore COCOBOD’s financial health. Key measures include streamlining cocoa road projects, phasing out fertilizer subsidies, reforming the producer price review mechanism and enforcing fiscal discipline.

However, the World Bank emphasises that these measures alone will not be enough. A thorough overhaul of COCOBOD’s governance structure is essential to ensure the sector’s long-term sustainability.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.



Source link

johnmahama
  • Website

Keep Reading

Data must be treated as “core infrastructure” to achieve SDG 8 – Government Statistician

Asantehene rallies chiefs to push for equity in ownership of mineral resources

GOIL announces upgrade of 270 pump stations; calls for fair fuel import permits

Emergency MPC meeting is in line with our commitment to be proactive and responsive to policy formulation – BOG

Team Technocrafts Innowear of Services Primary & JHS champions of 2025 GSTEP challenge

We will reduce prices by significant margin if shipping charges are reviewed – GUTA 

Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Cedi sells at GHS11.95 on forex market, GHS10.44 interbank

July 18, 2025

GOIL—National strategic assets need protection: MD

July 18, 2025

Rejuvenated GOIL management restores confidence in the company.

July 18, 2025

Ghana, Serbia forge historic partnership on trade, labour, scholarships and tech

July 18, 2025
Latest Posts

Ghana ready to partner ECOWAS in fight against money laundering — Foreign Affairs Ministry

July 17, 2025

GIABA rallies ECOWAS Resident Representatives to step up anti-money laundering efforts

July 17, 2025

YES Pact engages youth, stakeholders on Ghana’s ICT in education policy

July 14, 2025

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Welcome to JohnMahama.news, your trusted source for the latest news, insights, and updates about the President of Ghana, government policies, and the nation at large. Our mission is to provide accurate, timely, and comprehensive coverage of all things related to the leadership of Ghana, as well as key national issues that impact citizens and communities across the country.

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2025 johnmahama. Designed by johnmahama.

Type above and press Enter to search. Press Esc to cancel.