SONA2026: Gov’t reforms will see a total transformation of the cocoa sector – Pres. Mahama

Mr. Speaker, a nation that does not learn from past mistakes cannot get out of the cycle of problems that impose hardships on its citizens. We have just begun to emerge from the most devastating economic crisis in our nation's recent history

This crisis was triggered by general financial indiscipline, huge deficits, and massive debts that were occasioned by persistent and budgeted expenditure to meet the ends of convenient politicians. In the last week, we have had to take the painful but necessary decision to revise the producer price of cocoa to achieve competitive pricing and resolve the acute liquidity challenges in the sector

This unplanned expenditure would have taken us right back to the very devastating economic problem we have only recently begun to escape. While fully understanding the concerns and protests of our farmers, I can firmly assure them that the reforms announced by government will see a total transformation of the cocoa sector, and it will guarantee them a fair and transparent price that enables them to meet the cost of producing the commodity and making decent margins.

The difference between economic hardship and avoiding the same is the exercise of sound economic judgment, and I'm determined to take decisions that ensure our collective well-being and avoid the suffering of all our citizens. These are difficult decisions to take, but Mr. Speaker, I had to take them.