Connect with us

General News

SONA: Cocoa Sector Reforms Necessary Despite Painful Impact — Mahama

Published

on

President John Dramani Mahama has defended the government’s decision to revise the producer price of cocoa, describing the move as a necessary economic reform aimed at stabilizing the sector and protecting Ghana’s long-term financial future, despite the short-term challenges it may create for farmers.

Addressing Parliament during the State of the Nation Address (SONA), President Mahama acknowledged the concerns of cocoa farmers following the price adjustment but stressed that the decision was unavoidable due to liquidity pressures in the sector.

“In the last week, we have had to take the painful but necessary decision to revise the producer price of cocoa to achieve competitive pricing and resolve the acute liquidity challenges in the sector,” President Mahama stated.

He explained that the government faced a difficult economic choice, noting that failure to implement the reforms would have forced the country into additional borrowing, potentially worsening Ghana’s debt situation.

“Failure to do this would have meant borrowing billions in borrowed funds. This unplanned expenditure would have taken us right back to the very devastating economic problem we have only recently begun to escape,” he said.

President Mahama further revealed that previous economic challenges had placed significant financial strain on the national budget, making prudent fiscal management essential to sustain economic recovery.

He assured cocoa farmers that the reforms are not intended to disadvantage them but rather to ensure sustainable and fair returns for their labour.

“While fully understanding the concerns and protests of our farmers, I can firmly assure them that the reforms announced by government will see a total transformation of the cocoa sector,” he said.

According to the President, the restructured pricing system will provide greater transparency and help farmers maintain decent profit margins while covering the cost of production.

“It will guarantee them a fair and transparent price that enables them to meet the cost of producing the commodity and making decent margins,” he added.

President Mahama emphasized that economic leadership requires making tough decisions to protect the broader population from future hardship.

“The difference between economic hardship and avoiding the same is the exercise of sound economic judgment. And I’m determined to take decisions that ensure our collective well-being and avoid the suffering of all our citizens,” he stated.

He acknowledged that the reforms may be unpopular in the short term but insisted they were necessary to secure Ghana’s economic transformation and ensure the sustainability of the cocoa sector, which remains a key contributor to foreign exchange earnings and rural livelihoods.

“These are difficult decisions to take, but I had to take them,” he concluded.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General News

GTA CEO Maame Efua Houadjeto Accepts Vice Chair Role of African Travel Commission

Published

on

Mrs. Maame Efua Houadjeto, Chief Executive Officer of the Ghana Tourism Authority (GTA), has officially accepted her appointment as Vice Chair of the African Travel Commission (ATC), reinforcing Ghana’s commitment to promoting tourism integration and sustainable development across the continent.

Her acceptance was announced during a high-level strategic meeting with the leadership of the African Travel Commission on the sidelines of the 2026 Hotel Managers Conference (HMC), held from July 11 to 12 at the Lagos Continental Hotel in Lagos, Nigeria.

The meeting brought together key tourism leaders, including Director General of the Nigerian Tourism Development Authority (NTDA) and Chairman of the African Travel Commission, Mr. Olayiwola Awakan, Executive Director of the ATC, Dr. Lucky Onoriode George, and Board Member, Prof. Wasiu Babalola.

Speaking after accepting the appointment, Mrs. Houadjeto expressed gratitude for the confidence placed in her, describing the role as both an honour and a great responsibility. She pledged to work closely with the Commission’s leadership and tourism stakeholders across Africa to strengthen regional partnerships, encourage collaboration, and advance the continent’s tourism agenda.

She highlighted Ghana’s historic role as the host of Africa’s oldest travel and tourism organisation, the African Travel Commission, saying the country’s legacy places a responsibility on it to continue championing regional integration and sustainable tourism development.

Mrs. Houadjeto said one of her priorities as Vice Chair would be to bridge the gap between West Africa and other regions of the continent while promoting stronger cooperation among African countries. According to her, greater collaboration will boost intra-African travel, attract investment, create jobs, and drive sustainable economic growth through tourism.

Chairman of the African Travel Commission, Mr. Olayiwola Awakan, welcomed her acceptance of the appointment, describing it as a significant step toward strengthening the Commission’s vision for a more united African tourism industry.

He praised Ghana’s longstanding contribution to tourism development in Africa and expressed confidence that Mrs. Houadjeto’s experience and leadership would add value to the Commission.

“Ghana has always played an important role in African tourism, and I am confident that with Mrs. Houadjeto serving as Vice Chair, the Commission will benefit immensely from her experience and leadership. Ghana, West Africa, and indeed the entire continent stand to gain when we work together towards common goals,” he said.

Executive Director of the African Travel Commission, Dr. Lucky Onoriode George, also described Mrs. Houadjeto’s acceptance as a major milestone in the Commission’s revitalisation efforts and a reaffirmation of Ghana’s historic leadership as one of the ATC’s founding members.

He noted that Ghana’s active role in the Commission’s leadership would help advance the organisation’s vision of building a more united, competitive, and globally recognised African tourism industry.

Dr. George added that the Commission remains committed to strengthening partnerships among governments, the private sector, development partners, and tourism stakeholders to accelerate tourism growth, improve air connectivity, encourage research and innovation, attract investment, and position Africa as one of the world’s leading tourism destinations.

The meeting ended with a renewed commitment by participants to promote a shared continental tourism agenda through strategic partnerships, regional integration, and sustainable development. They expressed confidence that Ghana’s leadership within the African Travel Commission would further support efforts to drive inclusive and sustainable tourism growth across Africa.

Continue Reading

General News

President Mahama Signs New GIPA Act to Boost Investment and Position Ghana as West Africa’s Business Hub

Published

on

President John Dramani Mahama has signed into law the new Ghana Investment Promotion Authority (GIPA) Act, replacing the former Ghana Investment Promotion Centre (GIPC) Act in a major reform aimed at strengthening Ghana’s investment climate.

The new legislation is expected to reposition Ghana as a leading investment destination in Africa by simplifying investment procedures, reducing bureaucratic bottlenecks, and making it easier for both local and foreign investors to establish and operate businesses.

The Act also strengthens investor protection by providing a more robust legal framework that enhances confidence and security for investors while improving the country’s overall investment environment.

Additionally, the law expands the mandate of the Ghana Investment Promotion Authority, empowering it to more effectively promote, facilitate, regulate, and monitor investments across key sectors of the economy.

A key feature of the Act is its emphasis on supporting Ghanaian businesses, enabling local enterprises to scale up, attract investment, and participate more competitively in the country’s growing investment ecosystem.

The government says the new GIPA Act forms part of its broader economic transformation agenda and is expected to drive sustainable economic growth, create jobs, attract quality investments, and reinforce Ghana’s position as the preferred investment destination in West Africa.

The legislation marks another step in the government’s #ResettingGhana agenda to build a more competitive, business-friendly, and resilient economy.

Continue Reading

General News

Kenneth Ashigbey Denies Influencing Wontumi Case, Condemns False Claims

Published

on

Chief Executive Officer of the Ghana Chamber of Mines, Ing. Kenneth Ashigbey,has strongly denied allegations that he influenced the High Court’s ruling in the case involving NPP Ashanti Regional Chairman Bernard Antwi-Boasiako, popularly known as Chairman Wontumi.

In a press release issued on Tuesday, July 21, 2026, Ashigbey described as “completely false” reports claiming that his relationship with the trial judge influenced the court’s decision and that he had allegedly stated he was confident Wontumi would be jailed because the judge was his sister-in-law.

Ashigbey categorically rejected the claims, insisting he never made such a statement.

“I have never said, anywhere, at any time, that I was confident Wontumi will go to jail because the judge is my sister-in-law. That quote is a fabrication,” he stated.

He further clarified that the July 20, 2026 judgment in Republic v. Bernard Antwi-Boasiako (Wontumi), Kwame Antwi (At Large), and Akonta Mining Company Limited is entirely separate from a petition he filed together with Martin Kpebu, Edem Senanu, and Kwame Asiedu.

According to Ashigbey, their petition remains pending before a different court and has not yet been heard on its merits. He described attempts to connect the two cases as “deliberate mischief” aimed at misleading the public.

He also dismissed suggestions of a conflict of interest, stressing that he was not a party to the case that resulted in Wontumi’s conviction and therefore had no direct interest in its outcome.

“There could not have been any conflict-of-interest situation as is being alleged,” he stated, urging the public to refrain from dragging judges and their family relationships into public propaganda.

Ashigbey warned that such allegations undermine public confidence in Ghana’s justice system and called on citizens to allow the judiciary to perform its constitutional duties without interference.

Reaffirming his long-standing position on illegal mining, Ashigbey said his advocacy has remained unchanged since 2017. He maintained that individuals who organise, finance and benefit from illegal mining activities—the “kingpins”—should face the maximum punishment permitted under the law.

“For the past eight years, I have maintained the principled view that those who organise, finance and benefit (‘kingpins’) from illegal mining activities should be subject to the maximum sentence prescribed by law. I stand by that position without reservation,” he said.

He concluded by urging the public to disregard the false reports and instead focus on the substantive issues surrounding the fight against illegal mining and the rule of law.

110 Response – I was confident Wontumi will go to_260721_190440

Continue Reading

Trending

Copyright © 2026 KPDOnline. Powered by AfricaBusinessFile