The World Bank has called for governance reforms in Ghana's cocoa sector.
In its review of the Ghana public sector finance for 2024, the World Bank indicated that the cocoa sector has accumulated large debts and its governance needs to be reformed.
It explained that the sector has accumulated large losses due to the high rollover cost of outstanding cocoa bills, high operational costs, and elevated quasi-fiscal operations (for example, fertilizer provision and rural roads development).
The World Bank indicated that a turnaround strategy is under preparation with expenditure consolidation measures including the rationalization of cocoa roads, the phasing out of the fertilizer input subsidy to farmers, the reform of the Producer Price Review Mechanism, and enhanced fiscal discipline.
