Dangote eyes 500,000-tonne cocoa processing deal in Ghana – Ato Forson
Nigerian billionaire and industrialist Aliko Dangote is seeking to establish a major cocoa-processing operation in Ghana, with a proposed arrangement that could involve the local processing of 500,000 metric tonnes of cocoa, Finance Minister Dr Cassiel Ato Forson has disclosed.
He said Mr Dangote had personally contacted him and President John Dramani Mahama to express interest in using Ghana as a processing hub, in what could become a significant investment in the country's drive to retain more value from its cocoa industry.
The two sides are currently discussing the terms of the proposed arrangement, which the minister said could help Ghana meet its target of processing more than half of its cocoa locally by 2028.
Speaking on Joy News’ PM Express on Thursday, November 12, after presenting the 2027 Budget to Parliament, Dr Forson said the prospective investor was prepared to commit to a large-scale operation rather than a modest venture.
“I don't want to mention names, but already a major businessperson operating in the sub-region has reached out to me to sign a contract for 500,000 metric tonnes of cocoa value addition here in Ghana to process it locally in Ghana,” he said.
He subsequently identified Mr Dangote as the businessman behind the proposal, adding that the Nigerian industrialist had personally reached out to him and the President.
"I think it would not hurt if I mentioned Dangote has reached out to use Ghana as a hub to process cocoa locally," he disclosed.
“He reached out to me. He reached out to His Excellency the President. He's ready to come to Ghana,” Dr Forson said.
According to the Finance Minister, Mr Dangote believes he could help Ghana process more than 50 per cent of its cocoa locally by 2028.
The proposal comes as the government intensifies efforts to move the country away from exporting largely unprocessed cocoa beans and capture a greater share of the value generated from the commodity.
Presenting the 2027 Budget Statement and Economic Policy, Dr Forson announced a target to process at least 50 per cent of Ghana's cocoa locally by 2028 and increase that proportion to 100 per cent by 2030, paving the way for a ban on raw cocoa exports.
The planned expansion is expected to cover not only the grinding of beans but also the production of cocoa liquor, butter, cake, powder, chocolate, cosmetics and other finished products.
The government says the country that produces the cocoa should also retain a larger share of the income, industrial activity and employment generated from processing it.
The initiative forms part of the government's US$3 billion commercial agriculture programme under its wider US$10 billion, four-year economic transformation agenda, which seeks to expand domestic production, strengthen agro-processing and create jobs.
Ghana has also been working to make more cocoa beans available to domestic processors. In February 2026, Cabinet directed that at least 50 per cent of cocoa beans be processed locally from the 2026/27 crop season, alongside plans to revive the state-owned Cocoa Processing Company.
Dr Forson said the proposed engagement with Mr Dangote could give further impetus to the government's ambition to establish Ghana as a major cocoa-processing centre in the sub-region.
However, the proposed 500,000-tonne arrangement remains under discussion, with the terms yet to be concluded and a contract yet to be signed.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
KioskNews shows a cleaned-up reading view extracted from the publisher’s page — the original always lives on their site, not ours.