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Kojo Oppong Nkrumah credits sharp rise in cocoa prices and production to previous administration
The Ranking Member of Parliament’s Standing Committee on the Economy, Kojo Oppong Nkrumah, has said that the significant increase in Ghana’s cocoa earnings is largely due to the work of the previous administration.
In an interview with the Asaase Breakfast Show via Zoom, he revealed that after the Economics Committee of Parliament met with the Bank of Ghana, it became clear that both global cocoa prices and export volumes had seen a sharp rise between January and June this year.
According to him, Ghana earned $2.1 billion from cocoa exports in the first half of 2025, compared to $762 million during the same period in 2024.
He explained that the Bank of Ghana attributed the surge in revenue to a 97% increase in the market price of cocoa, which moved from $2,694 to $5,313 per ton.
Mr. Oppong Nkrumah noted that the volume of cocoa exports rose from 150,000 tons to 244,000 tons, a 62% increase within the same period.
He emphasized that cocoa does not grow in six months, adding that it takes about three years to mature.
He therefore pointed out that the current increase in earnings was the result of cocoa planted under the previous administration.
He added that the combined effect of higher market prices and increased production volumes had led to the jump in revenue.
By: Jacob Aggrey
The Diaspora Affairs Office at the Office of the President has hosted a delegation of African diaspora women who are in Ghana ahead of a planned Presidential Conferment of Citizenship ceremony.
The Director of Diaspora Affairs, Kofi Okyere Darko, explained in a Facebook post that the visit was a gesture of appreciation by the delegation to the Government of Ghana for its continued efforts to reconnect Africans in the diaspora with their ancestral homeland.
He indicated that the ceremony, scheduled for next Monday, will officially grant Ghanaian citizenship to members of the delegation as part of the country’s broader engagement with the African diaspora.
The delegation was led by Erica Bennett, Founder of the Diaspora Africa Forum.
According to Mr Okyere Darko, her years of advocacy have played an important role in strengthening ties between Africa and people of African descent living abroad.
He noted that the group’s journey towards citizenship represents not only a legal process but also a cultural and spiritual return to their roots.
Also present at the meeting was Natalie Jackson, an attorney who is also expected to receive Ghanaian citizenship during the ceremony. She works closely with renowned civil rights lawyer Ben Crump.
Mr Okyere Darko emphasised that Ghana remains committed to strengthening relationships with the African diaspora and promoting unity, identity, and shared heritage among people of African descent worldwide.
By: Jacob Aggrey
Ghana has signed a debt restructuring agreement with the Kingdom of Belgium as part of efforts to restore the country’s economic stability after the financial crisis that hit the nation in 2022 and 2023.
The Minister of Finance, Cassiel Ato Forson, today disclosed that he signed the agreement on behalf of the Government of Ghana.
He explained that Ghana experienced a very difficult period during the crisis, which forced the government at the time to declare a debt default.
However, he indicated that the country is now recovering and witnessing a significant economic turnaround.
According to him, stronger systems are also being put in place to ensure that Ghana does not return to such a situation again.
Dr Forson noted that the agreement with Belgium is the eighth deal Ghana has concluded with countries under the Official Creditor Committee as part of its external debt restructuring programme.
He expressed appreciation to the Government of Belgium for its support and partnership with Ghana during the process.
The Finance Minister thanked Carole van Eyll, Ambassador of Belgium to Ghana, for her role in strengthening relations between the two countries.
The agreement forms part of Ghana’s broader effort to restructure its external debts and stabilise the economy following the crisis.
By: Jacob Aggrey
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