“GHANA TAKES BACK ITS COCOA!” MAHAMA VOWS TO END FOREIGN FUNDING DEALS
President John Mahama has declared a bold economic shift, announcing that Ghana will halt foreign borrowing tied to the purchase of its cocoa a move he says will restore national control over the prized commodity.
Speaking at the Accra Reset Addis Reckoning event in Addis Ababa, Mahama insisted Ghana has enough local currency to finance its own cocoa purchases without “collateralising the beans” through foreign-backed arrangements.
“We have enough cedis in Ghana to pay for our cocoa,” he said, revealing plans to raise domestic bonds instead of relying on external funding.
Mahama added that the country has the capacity to process up to 400,000 tonnes of cocoa beans locally signalling a drive not just for financial independence, but for value addition at home.
The announcement marks a dramatic push for economic sovereignty in one of the world’s top cocoa-producing nations.