Ghana's president-elect pledges to revitalise cocoa sector

Ghana’s president-elect, John Dramani Mahama, has pledged to revamp the country’s cocoa industry and reorganise the state-run regulator.

On Friday, he criticised the structure of the industry saying the cocoa marketing board, COCOBOD, competed with farmers for profits.

The board controls all aspects of production in Ghana, the world’s number two grower, from seedlings to jute bag supplies for packing beans for exports.

Previous attempts to break it up have failed.

Mahama said he aimed to stimulate growth and improve efficiency in the industry.

Ghana's cocoa production hit its lowest level in decades last season, dragged down by climate change, tree disease, and wildcat gold mining.

In addition, the regulator’s growing dependence on top exporters to help finance bean purchases is leaving local buying companies marginalised.

Mahama says his government will work on a restructure, hinting at private sector involvement in some areas currently handled by COCOBOD.

A former president, Mahama secured a decisive victory in the 7 December election, driven by voter dissatisfaction with the rising cost of living, instability, and falling production in the country's key cocoa and gold sectors.

His National Democratic Congress party also secured a wide majority in the parliamentary election. Mahama takes office on 7 January.