{"id":295194,"date":"2026-02-17T05:49:16","date_gmt":"2026-02-17T05:49:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/295194\/"},"modified":"2026-02-17T05:49:16","modified_gmt":"2026-02-17T05:49:16","slug":"ghana-sets-2030-deadline-to-overhaul-cocoa-financing-and-end-raw-mineral-exports","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/295194\/","title":{"rendered":"Ghana sets 2030 deadline to overhaul cocoa financing and end raw mineral exports"},"content":{"rendered":"<p>\n        In a statement issued by the Ghanaian presidency following the \u201cAccra Reset\u2019s Addis Reckoning\u201d forum on the sidelines of the African Union summit, Mahama outlined plans to <a href=\"https:\/\/africa.businessinsider.com\/local\/markets\/ghana-slashes-cocoa-farmgate-price-to-dollar3580-rolls-out-bond-financing-plan\/mkdlb4q\" id=\"750c72ac-b3ed-433d-b7c3-e56f5762005b\" data-link-role-code=\"open_new_tab\" target=\"_blank\" rel=\"nofollow noopener\">finance cocoa purchases in local currency<\/a> and halt the export of raw mineral ores by 2030.\n    <\/p>\n<p>\n        The move marks a strategic turning point for Ghana, which has emerged as Africa\u2019s top gold producer but is now seeking to derive greater long-term value from cocoa, its most iconic agricultural export.\n    <\/p>\n<p>\n        \u201cOne of the key decisions we\u2019ve made is to stop accepting foreign funding for the purchase of our cocoa. We are going to raise domestic bonds. We have enough Cedis in Ghana to pay for our cocoa,\u201d Mahama said, according to the presidency.\n    <\/p>\n<p>        Breaking free from foreign financing constraints<\/p>\n<p>                    <img width=\"790\" height=\"527\" alt=\"Ghanaian President John Dramani Mahama speaking in Zambia, where he outlined Ghana\u2019s plan to grow foreign exchange reserves beyond $20 billion by 2029 as part of his economic reset agenda. [Photo by Jonathan Brady\/PA Images via Getty Images]\" title=\"Ghanaian President John Dramani Mahama speaking in Zambia, where he outlined Ghana\u2019s plan to grow foreign exchange reserves beyond $20 billion by 2029 as part of his economic reset agenda. [Photo by Jonathan Brady\/PA Images via Getty Images]\" class=\"image lazyloaded imgWithMetaData\" src=\"data:image\/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'790'%20height%3D'527'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E\" data-original=\"https:\/\/ocdn.eu\/pulscms-transforms\/1\/en8ktkpTURBXy83MjdiYjM2YTZhYjdmNTIzYmUzNDE3NTc4NzUzZDViZC5qcGeRlQLNAxbNAg_Cww\" fetchpriority=\"low\" decoding=\"async\" loading=\"lazy\"\/> <\/p>\n<p>\n        For decades, foreign-backed cocoa financing required Ghana to pledge its cocoa beans as collateral, effectively locking the country into exporting raw produce and limiting domestic processing. Mahama said this model deprived Ghana of the opportunity to <a href=\"https:\/\/africa.businessinsider.com\/local\/markets\/ghana-limits-foreign-investments-by-local-funds-to-support-cedi-boost-economic\/83ll7ch\" id=\"683f8f8a-55ce-4d5c-93ed-2ab0d76cadb8\" data-link-role-code=\"open_new_tab\" target=\"_blank\" rel=\"nofollow noopener\">maximize earnings from its own resources.<\/a>\n    <\/p>\n<p>\n        \u201cYou collateralise the beans with the financier, buy them, ship them, and they pay you the international market price,\u201d he said. \u201cWe have the capacity to process 400,000 tons of those beans in Ghana, but because they are collateralised, we cannot even allocate them to local processors.\u201d\n    <\/p>\n<p>\n        By shifting to domestic bond financing in Ghanaian cedis, the government expects to unlock hundreds of thousands of tons of cocoa for local processing, significantly boosting export value and strengthening national revenues.\n    <\/p>\n<p>\n        Mahama also set an ambitious deadline to transform Ghana\u2019s broader resource economy. \u201cBy 2030, there won\u2019t be any raw mineral ores leaving Ghana. You must process all that locally,\u201d he said.\n    <\/p>\n<p>\n        The presidency said the reforms are designed to position Ghana not just as a leading producer of cocoa and gold, but as a global value-added exporter, ensuring more wealth, jobs, and industrial growth remain within the country.\n    <\/p>\n","protected":false},"excerpt":{"rendered":"In a statement issued by the Ghanaian presidency following the \u201cAccra Reset\u2019s Addis Reckoning\u201d forum on the sidelines&hellip;\n","protected":false},"author":2,"featured_media":295195,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-295194","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/295194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=295194"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/295194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/295195"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=295194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=295194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=295194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}