The Government has concluded an emergency Cabinet meeting focused on the cocoa sector, with key decisions taken to reform the industry and improve conditions for cocoa farmers across the country.

Addressing the media after the meeting, the Spokesperson to the President and Minister for Government Communications, Hon. Felix Kwakye Ofosu, disclosed that the session deliberated extensively on proposed sector reforms and other related matters aimed at strengthening Ghana’s cocoa industry.

According to him, the Cabinet has agreed on decisive measures to ensure the expedited payment of cocoa farmers, a move expected to address longstanding concerns within the sector.

“As advertised yesterday, we have just concluded the lengthy Cabinet meeting, which was an emergency session that discussed the proposed sector and matters arising there,” Hon. Kwakye Ofosu stated.

He further revealed that the government is set to implement major reforms designed to transform the cocoa sector, particularly by increasing local processing capacity.

“Decisive measures have been agreed upon regarding expedited payments of cocoa farmers and the implementation of the most drastic reforms in the cocoa sector, with a view to achieving quantum leaps in domestic processing of cocoa, as opposed to exports of raw materials,” he said.

The reforms will also target the Ghana Cocoa Board (COCOBOD), with plans to improve administrative efficiency and strengthen management structures to ensure the sector operates more effectively.

“Various reforms will be carried out at the Cocoa Board in order to ensure more effective administration and management of the cocoa sector,” Hon. Kwakye Ofosu added.

He announced that further details of the reforms will be communicated to the public by the Minister for Finance.

“At 11 a.m. tomorrow, the Finance Minister will address the people of Ghana and announce these far-reaching measures as agreed upon at the end of the Cabinet meeting today,” he noted.

Hon. Kwakye Ofosu encouraged the public and stakeholders to follow the upcoming briefing, which is expected to provide comprehensive details of the government’s reform agenda for the cocoa sector.

The cocoa industry remains a critical pillar of Ghana’s economy, serving as a major source of foreign exchange and livelihood for thousands of farmers nationwide. The government’s latest intervention is therefore anticipated to significantly influence the sector’s productivity and sustainability.

President John Dramani Mahama has inaugurated the Presidential Advisory Group on the Economy (PAGE), charging members to provide independent, evidence-based advice to help restore Ghana’s economic stability and rebuild investor confidence.

Speaking at the inauguration ceremony, today ,President Mahama described the formation of PAGE as a critical step toward addressing Ghana’s economic challenges and strengthening governance structures.

“It is my distinct honour to preside over the inauguration of the members of the Presidential Advisory Group on the Economy and to convene its inaugural meeting this morning,” he stated.

The President commended members for accepting the responsibility, noting that their expertise would play a vital role in shaping Ghana’s economic recovery and long-term growth.

“Your willingness to contribute your time, experience and intellect to the national cause reflects a deep commitment to public service and to the future of our Republic,” he said.

President Mahama explained that PAGE would provide strategic counsel on macroeconomic management, fiscal consolidation, debt sustainability, and coordination between fiscal and monetary policies. He added that the group would also support structural transformation, industrial development, export-led growth, and private sector expansion.

“Your counsel is expected to be frank, independent, evidence-based and anchored in the long-term national interest,” he emphasised.

The President noted that PAGE, which previously existed under late President John Evans Atta Mills and during his earlier tenure, has been reintroduced and expanded to respond to the increasing complexity of Ghana’s economy. He added that the new structure would help streamline economic governance by eliminating overlapping institutions, including the former Economic Management Team.

President Mahama also highlighted the importance of collaboration between PAGE and the Economic Policy Coordinating Committee (EPCC), which is jointly chaired by the Minister for Finance and the Governor of the Bank of Ghana.

Reflecting on Ghana’s economic challenges, President Mahama acknowledged the country’s return to debt distress despite previous recovery efforts.

“Despite the progress we have made over the years, Ghana finds itself again in debt distress after having previously declared HIPC and assuring ourselves that we would never return to such a position,” he said.

He admitted that fiscal mismanagement and policy inconsistencies contributed to the current situation, stating that, “We dissipated significant buffers and stabilisers that would have shielded our citizens from the painful domestic debt haircuts they ultimately had to endure.”

The President further cited declining crude oil production and weak governance in state-owned enterprises as areas that require urgent attention.

“Our handling of state-owned enterprises has been uneven and, at times, haphazard. Weak governance frameworks, political interference and inadequate financial discipline undermined institutions that were once pillars of stability and credibility,” he noted.

He stressed that the lessons from Ghana’s economic setbacks must guide future policy decisions.

“Our task now is correction without amnesia — learning from both our successes and failures,” he said.

President Mahama charged PAGE to help restore fiscal discipline, attract investment, and reposition Ghana as a competitive and predictable economy.

“This is not simply about recovery; it is about institutional reform, structural transformation and a permanent reset of our economic governance culture,” he stated.

The advisory group is expected to meet at least once every quarter and will provide input into major national economic decisions, including the national budget, mid-year reviews, and monetary policy developments.

President Mahama concluded by expressing confidence in the group’s ability to deliver meaningful results.

“I expect rigorous analysis, constructive debate and solutions that place Ghana firmly on a path of economic recovery, resilience and inclusive growth,” he said.

The Presidential Advisory Group on the Economy shall be chaired by His Excellency the President and shall comprise the following distinguished individuals drawn from academia, public service, and the private sector:

1.H.E. Prof. Jane Naana Opoku-Agyemang

Vice President

2.Mr. Ishmael Yamson

Private Sector Leader; Former Member of PAGE

3.Mr. Kwame Pianim

Economist and Private Sector Leader; Former Member of PAGE

4.Ms. Nana Oye Mansa Yeboaa

Former Deputy Governor of Bank of Ghana

5.Dr. Kwabena Duffuor

Economist; Former Governor of the Bank of Ghana; Former Minister for Finance; Private Sector Leader and Industrialist

6.Sir Samuel Esson Jonah

Business Executive and Private Sector Leader

7.Mr. Ato Brown

Former World Bank Infrastructure Specialist; Agribusiness Investor

8.Dr. Henry A. Kofi Wampah

Former Governor of the Bank of Ghana

9.Togbe Afede XIV

Economist and Private Sector Leader

10.Ms. Abena Amoah

Chief Executive Officer, Ghana Stock Exchange

11.Prof. Priscilla Twumasi Baffour

University Professor and Academic Researcher

12.Prof. Patience Aseweh Abor, PhD

University Professor and Researcher

The Narcotics Control Commission (NACOC) will soon begin implementing Ghana’s licensing regime for medicinal and industrial cannabis cultivation, following Parliament’s approval of the regulatory and cost framework.

In a press statement dated February 11, 2026, and signed by Francis Opoku Amoah, Acting Director of Public Affairs and International Relations, NACOC announced that it will operationalise the licensing regime for controlled cultivation, processing, and use of cannabis with tetrahydrocannabinol (THC) content not exceeding 0.3 per cent.

NACOC emphasised that licenses will only be granted to qualified entities that meet stringent requirements, including security protocols, product traceability systems, quality assurance standards, and full compliance with applicable laws and regulations.

The Commission strongly cautioned prospective applicants to deal directly and exclusively with NACOC through the Cannabis Regulations Department (CRD), warning them to avoid engaging with any individuals, groups, or associations claiming to facilitate licensing.

“Follow only the officially approved licensing processes and guidelines,” the statement advised.

NACOC was emphatic that recreational use of cannabis remains illegal in Ghana despite the new licensing framework for medicinal and industrial purposes.

“NACOC reiterates that recreational use of cannabis remains illegal in Ghana,” the statement stressed.

The Commission indicated it will work closely with relevant ministries, departments, and agencies, including the Ministry of Interior, Ghana Standards Authority, and the Food and Drugs Authority, to ensure effective implementation, monitoring, and enforcement of the framework.

“We remain committed to safeguarding public health and safety while supporting lawful innovation and industrial development in Ghana,” the NACOC statement concluded.

The regulatory framework allows for the controlled cultivation of low-THC cannabis (0.3 per cent or less), which is typically used for industrial purposes such as fibre production, cosmetics, and certain medicinal applications, while maintaining strict prohibitions on high-THC cannabis associated with recreational use.