The President of Ghana, John Dramani Mahama, has declared that the country intends to transition away from relying on external financing for cocoa purchases, citing Ghana’s financial stability and institutional capabilities to manage its own cocoa trade.
Speaking at the Accra Reset Addis Reckoning event in Addis Ababa, Ethiopia, on Saturday, February 14, 2026, President Mahama stated that his administration will terminate the prolonged dependence on foreign credit facilities utilised for buying cocoa beans from farmers.
He said the country will rather mobilise domestic resources via bond issuances to finance local cocoa purchases.
He added that the practice of using cocoa beans as collateral under foreign funding arrangements has limited Ghana’s ability to control and fully utilise its produce, particularly in supporting local processing.
“We’re going to stop foreign funding for the purchase of our cocoa. We’re going to raise domestic bonds to buy our own cocoa. We have enough cedis in Ghana to pay for our cocoa. We don’t need to collateralise the beans. We have the capacity to process 400,000 tonnes of those beans.
But because the beans are collateralised, we cannot even allocate them to the local processors. We have to ship all the beans outside. We can buy them and add value by giving to our local processors. That’s what the Accra reset is all about,” the President said.
By: Rainbowradioonline.com/Ghana
