The Managing Director of Ghana’s Cocoa Marketing Company (CMC), Dr Wisdom Kofi Dogbey, has urged global investors to support Ghana’s ambitious cocoa sector reforms aimed at boosting domestic processing and capturing more value from the global cocoa trade.

Speaking at the Africa Cocoa Finance and Investment Forum (ACFIF) 2026, hosted at the London Stock Exchange, Dr Dogbey outlined Ghana’s new 50% domestic processing policy, set to begin in the 2026/27 crop season.

He explained that while Ghana produces between 650,000 and 800,000 tonnes of cocoa annually, nearly 70% has historically been exported as raw beans, leaving higher-value refining margins to European processors.

He noted that Ghana’s 13 processing companies, with a combined installed capacity of 500,000 tonnes, are currently underutilized due to unreliable bean supply.

The new policy will guarantee processors a defined allocation, pushing utilization rates toward profitability.

Dr Dogbey emphasized that Africa’s share of the global cocoa value chain remains disproportionately low.

The global chocolate market is worth about $130 billion annually, yet Africa — which produces up to 75% of raw cocoa — earns less than 10% of that value.

He argued that Ghana’s strategy is about more than confectionery, pointing to growing demand for cocoa butter in beauty, healthcare, and pharmaceutical industries.

On implementation, he outlined a three-track plan: guaranteed bean allocations to domestic processors, a bond programme to support Licensed Buying Companies, and long-dated offtake agreements with international buyers.

While acknowledging challenges such as energy costs, logistics, and compliance requirements, Dr Dogbey insisted these were manageable with adequate support.

SA