The Chairman of the Ghana Cocoa Board (COCOBOD), Dr Samuel Ofosu-Ampofo, has inaugurated three strategic sub-committees to deepen transparency, accountability, and sustainability within Ghana’s cocoa industry.
The committees, the Finance Committee, the Cocoa Tertiary Education Trust and Scholarship Committee, and the Cocoa Sector Marketing Committee (COSMARC), were officially inaugurated at COCOBOD Headquarters in Accra, in the presence of Board members, management, and staff.
Dr Ofosu-Ampofo said the inauguration represented a key milestone in COCOBOD’s reform agenda, aligned with the Government’s Reset Agenda under President John Dramani Mahama, aimed at reviving and transforming the cocoa sector.
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“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,” he said.
He noted that the Finance Committee, chaired by Mr Thomas Ampem Nyarko, Deputy Minister of Finance, would play a critical role in ensuring fiscal discipline amid financial pressures, including a debt stock estimated at GH₵32 billion.
“This situation underscores the urgent need for prudent financial management. Your committee’s role is therefore pivotal in restoring public confidence and guiding the Board toward financial stability and growth,” Dr Ofosu-Ampofo stated.
The Cocoa Tertiary Education Trust and Scholarship Committee, chaired by Dr Johnson Asiama, former Second Deputy Governor of the Bank of Ghana, will manage the newly created Cocoa Tertiary Education Trust Fund. The fund will support tertiary education, vocational training, and capacity-building for children of cocoa farmers and workers.
“Education has always been a cornerstone of Ghana’s development. Through this Trust Fund, we will empower the next generation of cocoa farmers with the skills and knowledge to sustain and transform the industry,” Dr Ofosu-Ampofo said, urging the committee to engage directly with cocoa-growing communities.
The Cocoa Sector Marketing Committee (COSMARC), chaired by Mr Sampson Ahi, Member of Parliament for Bodi, will focus on promoting transparency in cocoa marketing. Its mandate includes reviewing Licensed Buying Companies, assessing market trends, and recommending sustainability and pricing policies.
“Irregularities in cocoa purchasing, smuggling, and unfair market practices have long undermined the sector’s integrity. COSMARC’s work will be crucial in addressing these challenges and upholding Ghana’s reputation as a global leader in quality cocoa,” he emphasised.
Dr Ofosu-Ampofo commended the committee members for their expertise and dedication, urging them to uphold integrity and accountability in executing their duties.
“Together, let us promote education, accountability, and sustainable growth within Ghana’s cocoa sector. May your work bring renewed hope to our farmers, our youth, and the future of this great industry,” he said.
Dr Randy Abbey, Chief Executive of COCOBOD, praised the initiative, noting that it formed part of the institution’s broader transformation agenda to build a resilient and inclusive cocoa economy.
The inauguration of the three committees, he said, marked another significant milestone in COCOBOD’s efforts to ensure that Ghana’s cocoa industry remains globally competitive, farmer-centred, and sustainably managed.
The chairpersons of the committees expressed gratitude to the Government and COCOBOD for their confidence and pledged to execute their mandates with professionalism, diligence, and excellence.
