By Ashiadey Dotse
The World Bank has recognised the serious challenges facing Ghana’s cocoa industry and promised to provide recommendations to help rebuild the sector.
On January 8, 2025, Ousmane Diagana, the World Bank Vice President for West and Central Africa, met with President John Dramani Mahama to discuss Ghana’s agricultural potential, especially cocoa.
“Ghana has great potential in agriculture, particularly in cocoa. However, we are aware of the difficulties the sector is facing,” Mr. Diagana stated. He added that the World Bank has prepared strategies, including country-specific climate and development programs, to address these issues.
Ghana’s cocoa industry has been struggling, with production shrinking by 26% in the third quarter of 2024—the fifth consecutive quarterly decline. This contrasts with the country’s broader economic growth of 7.2% during the same period.
The decline began in 2023 and has worsened, with the sector contracting by over 20% in early 2024 and by 26% in both the second and third quarters. This prolonged crisis threatens the livelihoods of many rural farmers and Ghana’s foreign exchange earnings.
The World Bank has existing programs in Ghana and plans to work with the government to address these challenges and revitalise the cocoa industry.
