COCOBOD CEO calls for united African front to increase cocoa value and farmer earnings
Dr. Ransford Abbey, Chief Executive of the Ghana Cocoa Board (COCOBOD), called on Africa's leading cocoa-producing countries to unite in boosting local cocoa processing and securing better prices for farmers through collective action. Delivering a goodwill message at the Cocoa Value Addition Summit 2026 in Abuja, Nigeria, Dr. Abbey stated, "The time to unite and command greater value is now." He noted that Africa produces about 75 to 77 percent of the world's cocoa but earns less than 10 percent of the global chocolate industry's value.
As part of Ghana's strategy, Dr. Abbey announced that COCOBOD aims to process at least 50 percent of the country's cocoa beans locally beginning with the 2026/2027 crop season. The Board is introducing a new domestically financed funding model to replace the offshore syndicated loan system, giving COCOBOD greater flexibility to sell cocoa directly to local processors and increase factory utilisation. COCOBOD is also promoting public-private partnerships to expand domestic processing capacity and increase the production of cocoa liquor, butter, and cake for both traditional and emerging markets.
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COCOBOD CEO Dr Ransford Abbey has called for African cocoa-producing countries to unite and increase local processing. This initiative aims to boost
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