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International buyers advance over $4bn for Ghana’s cocoa purchase

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Some international buyers of Ghana’s cocoa have started advancing part of more than $4 billion to COCOBOD for cocoa bean purchases for the 2025/2026 crop season.

JoyBusiness has learned that the full amount will not be released at once but spread over a period. However, sources say a significant portion is expected before the end of this year.

The move by global traders is to secure the necessary commitment from COCOBOD for bean supply.

COCOBOD’s New Financing Deal

In 2023, COCOBOD introduced a new funding model for cocoa purchases, requiring global traders to deposit at least 60% of the value of their forward contracts at the start of the season.

This system replaced the three-decade-old pre-export syndicated loan from international banks.

Part of the traders’ deposits will be used to finance purchases from farmers through existing partnerships with licensed cocoa buying companies (LBCs). In this arrangement, traders fund LBCs to buy cocoa while COCOBOD acts as an intermediary.

Impact on the Cedi

Analysts argue that apart from cocoa farmers, the cedi will be one of the biggest beneficiaries of these inflows, as they could significantly boost the Bank of Ghana’s international reserves.

The Bank’s Economic and Financial Data released in July put Ghana’s reserves at $11.1 billion.

Bank of Ghana Governor, Dr. Johnson Asiama, in an exclusive interview with JoyBusiness’s George Wiafe, said the inflows should signal to the market that the central bank is well-positioned to intervene when needed to meet the demands of businesses and commercial banks.

Dr. Asiama maintained that the development shows a favourable outlook for the cedi despite recent pressures. “As regulator, we have taken the needed actions to ensure that things do not get out of hand,” he assured.

He added that Ghana’s macroeconomic situation remains solid and should give businesses confidence in the cedi’s outlook as well as in ongoing measures to improve market liquidity.

JoyBusiness has also learned that the country could receive additional inflows from development partners, which should further strengthen international reserves.

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Ghana’s shea industry would evolve into a multi-million-dollar enterprise driving rural industrialization and inclusive growth – Dr Osei Okrah revealed

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Ghana’s shea industry is key to the transformation and the development of the youth and women. The industry has been the great source of livelihood, alleviating economic hardship to the people especially women in the northern part of the country.

As a tool to transforming and empowering the women and the youth, the shea sector is projected to evolve into a multi-million-dollar enterprise that would drive rural industrialization and inclusive growth, Dr. Andrew Osei Okrah, the CEO of Tree Crops Development
Authority said during the World Shea Expo Ghana, 2025 at Tamale.

Dr. Osei Okrah, CEO of TCDA revealing the potentials in the Shea industry to the stakeholders

Globally, he revealed, the demand for natural and organic products is rising. Shea butter has become a prized ingredient in cosmetics, pharmaceuticals, and the food industry. For Ghana, this presents a golden opportunity.

“For Ghana to exploit the market meaningfully, we have to expand into value-added products such as lotions, balms, and confectionery, to position women and youth-led SMEs for access to export markets and to transition from raw exports to industrial processing, thereby increasing domestic earnings and creating employment,” Dr. Osei Okrah advised.

Deriving the merit of the Expo, the CEO said it is a symbol of collective commitment to transforming the shea sector into a cornerstone of economic empowerment, environmental sustainability, and inclusive development.

He acknowledged the women who have preserved this heritage through generations and the rising tide of youth entrepreneurs bringing new energy, innovation, and market vision into the sector.

Reaffirming the theme of the expo “Empowering Women and Youth-led SMEs in the Shea Value Chain,” CEO said upon visiting Yumzaa Shea Butter Processing Centre in Tamale, owned by Madam Zakaria Adams, the industry is the most strategic path to inclusive economic growth. Thus, when women and youth are empowered, it is not merely to build businesses, but to build communities, industries, and sustainable livelihoods.

Dr. Osei Okrah, CEO of TCDA visiting the Yumzaa Shea Butter Processing Centre in Tamale, owned by Madam Zakaria Adams

He commended the Yumzaa Shea Butter Processing Centre for employing over 240 women and produces a range of value-added products from shea. “The facility runs on a 24-hour shift model; an initiative that aligns perfectly with the President H.E John Dramani Mahama’s 24-Hour Economy Agenda, which is anchored on modernization, industrialization and the transformation of the Ghanaian economy to create sustainable jobs nationwide”, he added.

He assures the government’s unwavering support to address the challenges confronting the industry. “The shea sector faces Environmental degradation – including bushfires, tree felling and climate change effects. TCDA’s Agenda 2030 will focus on capacity building and awareness campaigns on the dangers of cutting shea trees. This will be undertaken in collaboration with the Northern Regional Minister, Hon. Alhaji Ali Adolf John, and other stakeholders in the region”.

Limited access to finance particularly for women-led indigenous processors is another major challenge. TCDA is actively engaging financial partners and banks to invest in the shea sector, which has the economic potential of generating over $2 billion annually. Strengthening financial linkages for women and youth-led enterprises.

A major challenge also affecting the shea sector is low productivity due to pickers not picking enough nuts to meet local demand. TCDA key focus is to build the capacity of the pickers with the requisite resource to cover long distance of picking and equip them with innovative technologies to reduce labor and speed up output.

Another TCDA’s strategy to increase productive bring into line the Feed Ghana initiative by the president, is to ensure that a significant percentage of the raw unprocessed shea is reserved for the local industry to scale up production that can create more job opportunities before exporting the remains. This is backed by the TCDA Permit issued on 2nd May 2025, in accordance with Regulation 50 of L.I. 2471.

He called all stakeholders to support the growth of the industry as it has the prospect of transforming generational livelihood of the women and youth in the country.

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Tomato prices remain high in Accra despite bumper harvest

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Tomato prices in Accra remain elevated despite reports of a bumper harvest in farming communities, as high transport charges, poor storage facilities and weak market systems continue to undermine any benefits from increased production.

At Kasoa and Agbogbloshie markets, a small basket of tomatoes currently sells for between GHS220 and GHS250, well above the GHS120 to GHS150 range recorded during the same period last year.

Traders say the cost of transporting tomatoes from the Northern and Bono East regions, coupled with losses incurred through poor handling and inadequate preservation, is keeping prices beyond the reach of many households.

“Even though the farmers are producing more, transporting tomatoes from the farm gates to Accra costs almost the same as the produce itself. On top of that, we lose a lot along the way because of heat and bad roads,” said Aunty Yaa Asare, a trader at Kasoa market.

Another trader at Agbogbloshie, Mr Ibrahim Alhassan, noted that sales have declined as consumers adjust to the rising prices.

“People now buy half baskets instead of full ones. The price is too high, and sales are discouraging. Farmers bring plenty, but we cannot sell them quickly because there is no cold storage,” he explained.

Farmers, on the other hand, insist that prices at the farm gate have dropped this season, with a crate that previously sold at GHS200 now going for GHS120.

“The prices at the farms are lower this season. A crate that used to sell at GHS200 now goes for GHS120. The problem is that middlemen and transport charges push prices back up before they reach the consumer,” Mr Alhassan disclosed.

The Peasant Farmers Association of Ghana has therefore called for investment in cold chain systems and affordable transport solutions to reduce post-harvest losses and ease the burden on consumers.

“Every year we go through the same cycle. Without storage facilities, traders rush to sell, and consumers still pay more. Government support for logistics and preservation is key,” the association said in a statement.

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Ghana to own $5b fertiliser establishment by Alhadad from Qatar

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Ghana is set to become a hub for fertiliser production following a $5 billion investment agreement with Qatari agricultural investors, Aljadad Group.

A geo-technical team is scheduled to begin feasibility studies in October on land secured at the Petroleum Hub Development Corporation.

The project will be anchored by a gas processing plant at Atuabo, which will provide feedstock and strengthen Ghana’s industrial base.

According to the investors, the initiative is expected to create over 2,000 direct local jobs and enhance the country’s self-sufficiency in fertiliser production.

Reverend Foster Mawuli Benson, local partner of Aljadad Holdings, described the investment as a turning point in Ghana’s agro-industrial drive.

“This project is about to begin. For the first time, Ghana will be producing fertilisers locally—specifically urea and ammonia at the Petroleum Hub in Atuabo. This will create over 2,000 direct jobs, especially for the youth,” he said during a visit to the Minister of Food and Agriculture.

Minister for Food and Agriculture, Eric Opoku, urged the investors to fast-track construction, highlighting the project’s role in advancing the government’s food security agenda.

“We have many young people going into agriculture. With the shift toward irrigation farming for year-round production, timely delivery of this project will be critical. It must start immediately,” he emphasised.

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Bagre Dam Spillage: Farmers and communities gripped with fear

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Farmers and communities living along the White Volta River basin are bracing themselves for the annual spillage of the Bagre and Kompienga Dams in Burkina Faso, which begins today Monday, August 25, 2025.

The short notice has sparked fear and anxiety among the affected populations, who are worried about the potential destruction of their crops and farmlands.

Mr Samuel Azure, a peasant farmer in the Binduri District, expressed his concerns to the Ghana News Agency, saying, “The notice is too short. We received the information only a few days ago. Initially, the spillage was scheduled for August 27, but suddenly the date was changed to August 25, and we got the information just last Saturday.”

Many farmers in the area have not harvested their crops yet, and the sudden spillage could destroy their produce, exacerbating their economic hardship.

“Most of our farmers who planted maize and naara (early millet) are going to be adversely affected because they have not finished harvesting,” he said.

SONABEL, the power-producing company of Burkina Faso and managers of the Bagre and Kompienga Dams, announced on Saturday that the spillage would begin two days earlier than originally scheduled (Wednesday, August 27, 2025) due to a rapid rise in water levels.

A statement issued in Ghana by the Water Resources Commission indicated that as of Saturday, August 23, 2025, the Bagre Dam had reached 90.24 per cent of its filling capacity, corresponding to a water level of 234.27 metres, just 0.73 metres below its maximum retention level.

Similarly, the Kompienga Dam is at 177.90 metres with a filling rate of 79.36 per cent and 2.10 metres below its normal retention level.

Over the years, the annual spillage of the Bagre Dam has caused widespread flooding in downstream communities in Ghana, particularly in the Upper East and North East Regions, destroying farmlands, killing livestock, damaging property, and, in some cases, leading to the loss of lives.

In the Upper East Region, the spillage of water from the two dams usually causes the White Volta and its tributaries to overflow their banks, affecting several communities in districts including Binduri, Bawku West, Garu, Bawku Municipal, Tempane, Talensi, and Nabdam.

Farmers cultivating rice, maize, millet, and vegetables along the White Volta are usually the hardest hit, with several hectares of farmland submerged, displacing families, disrupting livelihoods, wiping out investments, and worsening food insecurity among vulnerable communities.

Mr Jesse Kazapoe, Head of the White Volta Basin of the Water Resources Commission, allayed the fears of farmers and residents, advising communities to move to higher ground for safety and to avoid farming along the riverbanks during the period.

“We have sent out information, educating the farmers to move to higher ground so we can prevent the loss of lives, but we cannot guarantee that food crops will not be lost since some farmers are still harvesting,” he said.

Mr Isaac Pabia, the Upper East Regional Focal Person and National Secretary of the Peasant Farmers Association of Ghana (PFAG), noted that the annual losses caused by the spillage of the Bagre Dam were unacceptable and advised farmers to avoid farming close to the banks of the White Volta River.

“Some of our farmers have already evacuated, but we need to enforce buffers along water bodies so that farmers will not farm so close to the rivers to avoid having their crops flooded every year,” he said.

Mr Christopher Beokena, the Upper East Regional Deputy Director of the National Disaster Management Organisation (NADMO) in charge of Administration, noted that all district directors had been tasked to sensitise farmers on the impending spillage and the precautionary measures.

“As we speak, some farmers have started harvesting even though some of their crops are not mature, and we will be monitoring the issue and providing assistance,’ he said.

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Ghana to become first Africa’s AI-powered agriculture hub with $100m Japanese business investment

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A Japanese company, Degas Limited has announced a $100 million investment over the next four years to help establish Ghana as Africa’s first AI-powered agricultural hub.

This expands a model that has already financed more than 86,000 smallholder farmers across 122,000 acres nationwide.

“Ghana has shown that when technology meets a clear national vision, smallholder farmers can thrive,” said Doga Makiura, CEO and founder of Degas Limited, at a meeting with President John Dramani Mahama on the sidelines of the Ghana Presidential Investment Forum.

“Our $100 million commitment will scale AI-driven satellite monitoring and precision agriculture techniques so farmers can boost yields, reduce risk, and access fairly priced finance.”

“We’ve already seen incomes double with a 95% repayment rate from the farmers”, he stated in the meeting with President Mahama.

Degas’ platform combines AI-driven satellite monitoring and agriculture techniques. The results, according to Makiura, are drawing strong interest from Japanese investors.

“Many Japanese partners now consider Ghana’s integrated approach the gold standard for agricultural investment in Africa,” he said.

President Mahama welcomed the announcement, calling it a vote of confidence in Ghana’s agricultural transformation agenda.

“This investment reinforces our commitment to integrated agricultural value chains that connect farmers to markets, finance, storage, and processing,” he said.

“By leveraging AI and precision technologies, we will improve productivity, enhance food security, and create dignified jobs for youth across rural communities.”

The new funding will support the expansion of Degas’ farmer financing, satellite-enabled crop monitoring, and precision agronomy services, while deepening partnerships across input supply, logistics, and offtake to strengthen local value chains.

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Cocoa farmers in Ghana are currently receiving the highest farmgate prices in West Africa – COCOBOD

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The Ghana Cocoa Board (COCOBOD) has refuted reports suggesting that Ghanaian cocoa farmers earn less than their counterparts in Céte d’Ivoire, insisting that Ghana currently pays the highest farmgate price in West Africa.

In a statement released on August 20, 2025, and sighted by GhanaWeb Business, COCOBOD said official figures confirm that Ghanaian farmers are significantly better off.

Currently, Ghana’s producer price stands at GH¢3,228.75 per 64kg bag, equivalent to GH¢51,660 per tonne or USS$5,040 per metric tonne (MT).

In contrast, Cdte d’Ivoire pays GH¢2,553.38 per bag, or GH¢40,854 per tonne (US$3,886/MT). According to the August 2025 Commodity Analysis Team report, Ghanaian farmers are earning:

– GH¢675.38 (US$64.16) more per bag ¢ GH¢10,806 (US$1,154) more per tonne Breakdown of comparisons

– Per Kilogramme: Ghana — GH¢51.65 (US$5.04) | Céte d’Ivoire – GH¢40.85 (US$3.89) – Per 64kg Bag: Ghana

— US$315 | Céte d’Ivoire — US$227 – Per Tonne: Ghana — US$5,040 | Céte d’Ivoire

– USS$3,886 COCOBOD stressed that claims of parity or disadvantage are “factually inaccurate and misleading.”

It explained that Ghana’s pricing strategy not only ensures fair returns for farmers but also shields them from currency volatility and reduces the incentive for smuggling across the Ghana~Cote d’Ivoire border.

“This pricing policy reflects COCOBOD’s unwavering commitment to ensuring fair and rewarding returns for farmers’ hard work,’ the statement said.

The Board added that Ghana’s leadership in the global cocoa industry is reinforced by sustainable prices and uncompromised quality.

“Ghana’s cocoa remains the global benchmark for quality, and now, backed by the highest farmgate price in West Africa, it also guarantees better livelihoods for our farmers, it concluded.

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US government warned Ghana over high rice imports due to failed policies

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The United State Department of Agriculture, USDA Grain and Feed 2025 Report forecasts Ghana’s milled rice production for 2025/2026 at 900,000 metric tons, representing “an 18 percent increase from the previous year due to favorable weather and improved farmer participation.”

But the optimism is tempered by weather risks. The report cautions that the Ghana Meteorological Agency has predicted “normal-to-below-normal rainfall and longer dry spells in 2025,” raising concerns over crop sustainability.

The production gap is already being felt in prices. According to the USDA, “Between March 2024 and January 2025, the average price of a 100kg bag of rice increased from GH¢200 to GH¢650, a 225 percent jump.” Although prices fell to GH¢400 by March 2025, they still remained twice as high compared to a year earlier.

Millers have explained that paddy rice with low moisture content attracted lower prices because “it breaks more during milling, reducing quality and affecting supply to the market.”

Despite growing local output, Ghana’s appetite for rice is rising faster. The report notes that consumption is projected to hit 1.80 million MT in 2025/2026, up from 1.75 million MT the previous year, driven by population growth and changing diets.

“Ghana’s urban population prefers fragrant long-grain rice, which is largely imported,” the report stated. Imports are expected to rise to 1.0 million MT, making up more than half of the national requirement.

The pricing trend underscores the problem. The USDA cites that as of early 2025, “a 25kg bag of Thai fragrant rice averaged GH¢690, Vietnamese rice sold at GH¢490, while local long-grain rice was priced at GH¢535.” With imports cheaper and often better processed, they remain more attractive to consumers.

The report emphasizes that “70 percent of rice sold in Ghana is imported,” with Vietnam, India, and Thailand dominating the market. U.S. rice exports have declined significantly as a result of lower price competitiveness and stronger Asian competition.

Rice has become the second most important cereal after maize, with per capita consumption now at 51kg. Yet, local production struggles with structural challenges — poor irrigation, low mechanization, and weak processing capacity. “Unless these bottlenecks are addressed, Ghana will remain import-dependent, leaving consumers vulnerable to global price shocks and exchange rate pressures,” the USDA warned.

Government has attempted to promote local rice through programs such as the National School Feeding Scheme, but uptake remains slow. The USDA concludes that while production is rising, “quality concerns, irregular supply, and distribution challenges continue to undermine local rice competitiveness.”

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Over 10 sideline directors at COCOBOD are been paid fully – Fiifi Boafo

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Former Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), Fiifi Boafo, has alleged that more than 10 experienced directors at the state agency are being paid full salaries despite being sidelined and rendered inactive under the current administration.

In an interview on Citi Eyewitness News on Tuesday, August 19, Mr. Boafo expressed concern over what he described as an inefficient use of public resources, claiming that a number of directors have been asked to stay at home and are no longer contributing meaningfully to the operations of COCOBOD.

“It is a statement of fact that there are a number of directors at COCOBOD who are now rendered almost useless, but they are drawing a salary,” Boafo said. “It is through no fault of those directors that they are not contributing anything significant to the board, but they are being paid.”

He questioned the logic behind sidelining long-serving professionals with institutional knowledge, experience, and expertise that could help improve the board’s performance, simply because a new government is in office.

Mr. Boafo described the situation as both a financial burden and a missed opportunity to leverage institutional memory and technical experience at a time when the cocoa sector faces serious challenges.

“I do not think that it is the most prudent thing to do,” he stated. “To ask these directors who have worked with the organisation for many years… and they have been asked to stay at home just because there is a new government in place — I think that is a cost to the board, and it also affects how effective and efficient the board operates.”

Speaking on the number of directors affected, he told host Umaru Sanda Amadu: “I will have to count but they are more than 10.”

As of now, COCOBOD has not issued any public response to the claims

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Poultry farmers in Bono Region seek govt support amid falling price of egg due to over production

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According to a report by TV3 News, poultry farmers in the Bono Region are appealing to government for urgent intervention as they grapple with plummeting egg prices caused by overproduction.

According to the farmers, the situation has left many of them struggling to break even, with some on the verge of collapse.

They explained that while demand for eggs has remained relatively stable, excessive production across the region has flooded the market, forcing prices down to unsustainable levels.

Currently, a crate of eggs is being sold at prices significantly lower than the cost of production, leaving farmers unable to recover investments in feed, medication, and labor.

Many warn that without support, large numbers of poultry businesses may shut down, worsening unemployment and threatening food security.

“We are producing more than the market can absorb, and as a result, prices keep falling. We need government’s support in finding solutions, otherwise farmers will be forced out of business,” one farmer said.

The poultry industry, a key contributor to Ghana’s agricultural sector, has been battling challenges ranging from rising feed costs to import competition.

The Bono Region, known as the hub of poultry farming in the country, is now facing what farmers describe as one of the worst crises in recent years.

Farmers are calling on government to introduce policies that will expand the local egg market, such as supplying schools, hospitals, and security agencies.

They also want investment in egg powder processing factories to absorb excess production and create new export opportunities.

Stakeholders believe that swift action is needed to stabilize the industry and protect the livelihoods of thousands who depend on poultry farming.

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