The Minister for Finance, Dr. Cassiel Ato Forson, has announced a government initiative to acquire 200,000 hectares of land for the establishment of large-scale cocoa plantations.

The initiative is aimed at restoring national cocoa production to its peak of 1 million metric tones annually.

Dr. Forson made the announcement during the inauguration of a new eleven-member Board of Directors for the Ghana Cocoa Board (COCOBOD) at the Ministry of Finance on Thursday.

He highlighted the sharp decline in production—now approximately 500,000 metric tonnes—as a result of years of mismanagement and declining farm productivity.

“Cocoa has always been the mainstay of our economy, and that must not change,” Dr. Forson said. “Unfortunately, massive mismanagement in recent years has led to a worrying downturn in both production and financial stability. It is time to act decisively.”

According to the Minister, the new plantations, to be developed in collaboration with COCOBOD, will complement existing smallholder farming and provide a more stable and scalable model to ensure long-term growth in the sector.

The land acquisition and plantation strategy form part of the government's broader agenda to reposition cocoa as a central pillar of the national economy, while restoring confidence among investors and the farming community.

Dr. Forson, who now serves on the COCOBOD board by virtue of a new law mandating the inclusion of the Finance Minister and the Governor of the Bank of Ghana, also drew attention to the urgent need to address disease outbreaks on cocoa farms, particularly in the Western Region, which continue to severely impact yields and farmer livelihoods.

“We must urgently deal with diseased farms if we are to see any meaningful improvement. The Finance Ministry will provide full support to COCOBOD in achieving its transformation goals,” he assured.

Dr. Samuel Ofosu Ampofo, the newly sworn-in Chairman of the COCOBOD Board, thanked President Nana Addo Dankwa Akufo-Addo for the confidence reposed in the board and pledged to drive a transformational agenda.

“We will reset, retool, and reposition COCOBOD to deliver on its mandate and to serve as a beacon of excellence in the cocoa sector,” Dr. Ofosu Ampofo stated.