An eleven-member Board of Directors for the Ghana Cocoa Board (COCOBOD) has been officially inaugurated at a brief but significant ceremony at the Ministry of Finance, with a strong call to urgently reverse the fortunes of the ailing cocoa sector.

The new board is chaired by Dr. Samuel Ofosu Ampofo and includes key figures such as the Minister for Finance, Dr. Cassiel Ato Forson (MP); Governor of the Bank of Ghana, Dr. Johnson Asiama; Chief Executive Randy Abbey; Alhaji Alhassan Kobina Ghansah; Vincent Oppong Asamoah; Deputy Minister for Trade, Samson Ahi; Deputy Minister for Agriculture, John Dumelo; Alhaji Alhassan Bukari; Nana Charles Owusu and Eric Turkson.

The inauguration was chaired by Energy Minister John Jinapor, who also serves as the Alternate Minister for Finance. In his remarks, Hon. Jinapor congratulated the new board members but expressed grave concern over the current state of COCOBOD.

He noted that while the institution was once a shining symbol of Ghana’s economic strength, recent years have seen a worrying decline. He noted that crop production, which previously peaked at 1 million metric tonnes, has slumped to about 500,000 metric tonnes. However, Mr. Jinapor expressed confidence in the calibre of the newly constituted board, stating that he was convinced they possessed the expertise and integrity to restore COCOBOD’s lost glory.

On his part, the Minister for Finance, Dr. Cassiel Ato Forson, expressed his gratitude for the opportunity to serve on the board once again, having previously been a member in his capacity as Deputy Finance Minister. He explained that the new law governing COCOBOD mandates the inclusion of both the Finance Minister and the Governor of the Bank of Ghana on its board.

Dr. Forson underscored the enduring importance of cocoa to Ghana’s economy, describing it as the “jewel of the economy,” and lamented the massive mismanagement of COCOBOD in recent years.

He outlined plans by government to introduce plantation farms by acquiring about 200 hectares of cocoa land, aiming to restore production levels to 1 million metric tonnes.

The Finance Minister further tasked the board to decisively address the issue of diseased cocoa farms, especially in the Western Region, which continues to hamper productivity. He assured COCOBOD of the full support of the Finance Ministry in all its endeavours.

Newly sworn-in Board Chairman, Dr. Samuel Ofosu Ampofo, expressed his appreciation to the President for the confidence reposed in the board. He described their appointment as both an honour and a call to duty, pledging on behalf of the members to lead a transformational agenda for the cocoa sector.

Dr. Ofosu Ampofo promised to “reset, retool, and reimagine” COCOBOD to restore it as a pivotal institution in Ghana’s economy.

He urged members of the political class to lead by example by actively engaging in farming to inspire the youth.