The Ghana Cocoa Board (COCOBOD), in partnership with government and key players in the financial sector, is considering a new funding model aimed at reducing Ghana’s dependence on exporting raw cocoa beans and accelerating value addition within the cocoa industry.

Chief Executive Officer of COCOBOD, Dr Randy Abbey, disclosed this during a press briefing, describing the proposed framework as a significant shift in how the cocoa sector is financed.

According to Dr Abbey, the new model is designed to support increased domestic processing of cocoa beans, strengthen industrial capacity, and improve revenue generation across the entire cocoa value chain.

He also assured cocoa farmers that outstanding payments for beans already supplied will be settled next week.

Dr Abbey explained that the initiative seeks to move Ghana away from the long-standing practice of selling raw cocoa beans primarily to raise funds for each cocoa season.

“The strategy is to promote domestic processing, enhance industrial capacity, and ensure that Ghana captures more value from its cocoa resources,” he said.

Industry analysts believe the proposed funding framework could reduce pressure on syndicated loan arrangements that have historically financed cocoa purchases, while creating new opportunities for collaboration with both local and international investors.

Dr Abbey noted that consultations with government officials and financial sector stakeholders are still ongoing, and that further details of the funding structure will be announced after these engagements are concluded.

The proposed model forms part of broader reforms in the cocoa sector aimed at improving sustainability, strengthening farmer incomes, and positioning Ghana as a leading regional hub for cocoa processing and chocolate manufacturing.