Key sub-committees needed to promote transparency, accountability, and educational empowerment within the cocoa industry has been has inaugurated  by Ghana Cocoa Board (COCOBOD).

The Board Chairman, Dr. Samuel Ofosu-Ampofo, inaugurated the Finance Committee, the Cocoa Tertiary Education Trust and Scholarship Committee, and the Cocoa Sector Marketing Committee (COSMARC) in a ceremony held at COCOBOD Headquarters in Accra.

According to Dr. Ofosu-Ampofo, the inauguration was a crucial step in the Board's renewed efforts to strengthen effectiveness and long-term growth within Ghana's Cocoa sector, aligned with President John Dramani Mahama's reset agenda.

“Upon assuming office, the President constituted this new Board with a clear mandate to chart a new course for the revival and transformation of Ghana’s cocoa sector. We are to diligently pursue this vision. One that seeks to restore discipline, efficiency, and sustainability in every aspect of our operations,” he said.

He mentioned that the role of restoring fiscal discipline and ensuring prudent financial management amid current economic challenges will be executed Finance Committee, chaired by Deputy Minister of Finance, Thomas Ampem Nyarko.

“Our debt situation, estimated at GHS 32 billion, underscores the urgent need for sound financial management. Your committee’s role is pivotal in restoring public confidence and guiding the Board toward stability and growth,” he noted.

Tertiary education and vocational training for children of cocoa farmers and workers will receive support from the newly-created Cocoa Tertiary Education Trust Fund, overseen by a committee chaired by Bank of Ghana Governor Dr. Johnson Asiama.

“Education has always been a cornerstone of Ghana’s national development. Through this Trust Fund, we will empower the next generation of cocoa farmers, ensuring they are equipped with the skills and knowledge to sustain and transform the industry,” the Chairman expressed.

He encouraged members to “visit farmers, listen to their stories, and let their experiences shape the policies and programmes you develop.”

The third committee, the Cocoa Sector Marketing Committee (COSMARC), chaired by Member of Parliament for Bodi, Sampson Ahi, will focus on ensuring transparency and fairness in cocoa marketing.

This committee will review the performance of Licensed Buying Companies (LBCs), assess market trends, and recommend policies to maintain integrity and competitiveness in the sector.

“Irregularities in cocoa purchasing, smuggling, and unfair market practices have long undermined the sector. COSMARC’s work will be crucial in addressing these issues and upholding Ghana’s reputation as a global leader in quality cocoa,” he said.

Members of the committees were commended by the COCOBOD Chairman for their commitment, expertise, and were encouraged to work with integrity and dedication.

COCOBOD’s Chief Executive, Dr. Randy Abbey, lauded the initiative, describing it as a key component of the organization’s ongoing transformation drive aimed at creating a stronger and more inclusive cocoa industry. He assured that management would provide full support to the committees in executing their duties.

The chairpersons of the three committees, in turn, thanked the government and COCOBOD’s leadership for the trust placed in them and vowed to discharge their responsibilities with diligence and integrity.

Ghana Cocoa Board, in collaboration with the European Union, the Food and Agriculture Organisation, and other stakeholders, launched the Ghana Cocoa Monitor.

The monitor will check duplication of sustainability programmes, ensure transparency, and build trust among government, civil society, the private sector, and farmers.

It will also support efforts at tackling challenges such as child labour, deforestation, and climate change in the cocoa sector.

This platform will promote a more collaborative approach to tackling challenges facing the cocoa sector and provide real-time insights for informed decision-making on cocoa sustainability.

Recently, Barry Callebaut Chief Executive Officer Mr. Peter Feld reaffirmed his company’s longstanding collaboration with COCOBOD and emphasised the importance of strengthening ties in a bid to sustain the cocoa industry.

He also highlighted key concerns, including price stability, continuous business development, and the crucial need for consistent cocoa and chocolate exports to support the global supply chain.

He called for renewed support for smallholder farmers, whom he described as “the backbone of the industry”, and advocated for deeper partnerships that will empower farmers and sustain cocoa production in the face of rising threats.

Mr. Feld further raised concerns over the growing menace of illegal mining, which continues to encroach on cocoa farmlands and urged both institutions to critically address the issue, warning that it poses a significant risk to the future of cocoa cultivation and livelihoods

“There must be a strong partnership between Barry Callebaut and COCOBOD to ensure the sustainability of the industry. The need to protect cocoa farms from destructive mining activities cannot be overemphasised,” he stated.

In response, COCOBOD’s Chief Executive, Dr. Randy Abbey, assured the Barry Callebaut delegation of the board’s unwavering commitment to partnership and transparency.

“There is nothing to be sceptical about. Our interest is the same, the sustainability of the cocoa industry,” he said.

Dr. Abbey emphasised the need for crop financing to continue, as long as it aligns with Ghanaian laws and does not undermine national interests. He added that COCOBOD remains committed to building appropriate systems and mechanisms that ensure mutual growth for all stakeholders within the cocoa value chain.

The Acting Deputy Chief Executive in charge of Finance and Administration, Mr. Ato Boateng, touched on the issue of illegal mining and gave firm assurance that COCOBOD will confront the challenge head-on by introducing punitive measures against farmers and landowners who allow cocoa farms to be converted into mining fields.

“This cannot continue. We are taking a firm stand. Sanity must prevail in the industry,” he stressed. He revealed that enforcement mechanisms are being developed in collaboration with other government agencies to protect cocoa-growing areas from further degradation.

He also reiterated management’s support for deepening collaboration with international partners to safeguard the future of cocoa farming in Ghana.

The meeting with Barry Callebaut, one of the world’s leading maker of high-quality chocolate and cocoa products, marks an important step in enhancing public-private sector cooperation in the cocoa sector, with both institutions pledging to champion sustainable cocoa production.