Ghana’s Finance Minister, Dr Cassiel Ato Forson, has announced the Government’s decision to pay all arrears owed to cocoa farmers immediately.

Speaking at a press conference following an emergency Cabinet meeting on Wednesday, February 12, 2026 to address the deep concerns of the cocoa sector, Dr Forson revealed that Cabinet had approved comprehensive reforms to guarantee fair prices for hardworking cocoa farmers, while securing the financial viability of the cocoa sector and ensuring the long‑term sustainability of the industry.

“To bring relief to unpaid cocoa farmers, Cabinet has accordingly directed the Ghana Cocoa Board to commence immediate payment of all affected cocoa farmers,” Dr Forson said while announcing Cabinet’s decision.

The emergency Cabinet meeting, held on Wednesday, February 11, 2026, underscores the urgency with which the Mahama administration is treating the crisis.

The measures come as thousands of cocoa farmers across the country have been left unpaid for months, with some struggling to afford even basic meals.

COCOBOD is currently grappling with approximately 50,000 metric tonnes of unsold cocoa at ports, while Licensed Buying Companies (LBCs) are owed about GH¢2.04 billion (US$185 million) by the regulator.

Some farmers have been reporting unpaid cocoa monies since November 2025, deepening their economic and social woes. The crisis has also led to reports of farmers detaining purchasing clerks over unpaid cocoa.

The payment delays stem from a combination of factors, including the collapse of international funding, a mismatch between Ghana’s farm‑gate price and plummeting global cocoa prices, and legacy forward‑sales contracts signed at historically low prices.

Cabinet has proposed a new Cocoa Board Bill for approval by Parliament that implements an automatic adjustment of producer prices. The proposed legislation will align cocoa producer prices with movements in the world market price, the exchange rate and other key variables.

Crucially, the new bill will guarantee a minimum of 70% of the gross FOB (Free on Board) price to be paid to cocoa farmers.

“Cabinet has therefore decided on the following reforms to guarantee a fair price to the cocoa farmer, secure the financial viability of the cocoa sector, and ensure the long‑term sustainability of the cocoa industry,” Dr Ato Forson stated.