CMC MD courts global investors in London to back President Mahama's cocoa sector reforms
Dr. Wisdom Kofi Dogbey, Managing Director of Ghana's Cocoa Marketing Company (CMC), took centre stage at the London Stock Exchange on Wednesday, making a forceful and data-driven pitch for global investment support behind President John Mahama's landmark 50% domestic cocoa processing policy. He spoke at the Africa Cocoa Finance and Investment Forum (ACFIF) 2026, hosted at the London Stock Exchange.
Dr. Dogbey stated that Ghana produces between 650,000 and 800,000 tonnes of cocoa in a good season, but approximately 70% of that harvest has left the country as raw beans. He said that Ghana has thirteen processing companies with 500,000 tonnes of combined installed capacity. The 50% domestic processing policy is commencing 2026/27. He also noted that the global chocolate market is worth approximately $130 billion a year, and Africa earns less than 10% of that $130 billion.
Dr. Dogbey presented a three-point commercial case. Ghana's policy covers a deliberate bean mix that includes main crop beans at zero ICE discount alongside light crop and remnant grades carrying 20% and above discounts. Processors operating under Ghana's Free Zone framework enjoy a full ten-year corporate income tax holiday, followed by a 15% rate thereafter- well below the standard rate of 25%. A guaranteed bean allocation under the new policy would push utilisation toward 75 to 80%.
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The Cocoa Marketing Company MD addressed global investors in London. He made a case for investment in President Mahama's cocoa sector reforms- but what could this mean for Ghana's cocoa industry?
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