Former National Chairman of the National Democratic Congress (NDC), Dr. Samuel Ofosu Ampofo, has been appointed as Chairman of the newly constituted Board of Directors of the Ghana Cocoa Board (COCOBOD).
His appointment comes at a time the government has signaled a determined push to revive Ghana’s struggling cocoa sector.
The 11-member board, officially sworn in on Thursday, May 16, 2025, is tasked with reversing the sector’s steep decline, marked by halved production levels, rising debts, and global price volatility.
“Cocoa has always been the backbone of our economy and a lifeline for millions,” Minister for Finance, Dr Cassiel Ato Forson said at the event. “We must take bold, decisive steps to restore it.”
To address the crisis, the government plans to acquire 200 hectares of land for new cocoa plantations, aiming to support smallholder farmers and return national output to the 1 million metric ton mark.
The Minister of Finance has pledged full support, describing COCOBOD as a “cornerstone of Ghana’s economic recovery.”
Dr. Ofosu Ampofo, who brings decades of public service experience, is expected to provide pragmatic leadership and drive policy reforms to improve productivity and financial accountability.
The new board includes Dr. Cassiel Ato Forson (Minister for Finance), Dr. Johnson Asiama (Governor, Bank of Ghana), Randy Abbey (Chief Executive), Alhaji Alhassan Kobina Ghansah, Vincent Oppong Asamoah,(MP for Formal West) Sampson Ahi (Deputy Minister for Trade), John Dumelo (Deputy Minister for Agriculture), Alhaji Alhassan Bukari, Nana Charles and Owusu Eric Turkson
The ceremony was chaired by Energy Minister John Jinapor.
Jinapor praised the caliber of the new board but did not mince words about the dire state of COCOBOD, noting that annual production had fallen to around 500,000 metric tonnes half of its peak.
Finance Minister Dr. Ato Forson, who returns to the board under a statutory provision, stressed the urgency of reform, citing massive financial mismanagement in recent years. He echoed the call for transparency, farmer welfare, and sustainable practices to be prioritized.
With a clear mandate and political backing, stakeholders are hopeful that the new board will steer COCOBOD back on course and reaffirm cocoa’s place as “the jewel of the economy.”
Source: Myxyzonline.com
