Nigerian billionaire Aliko Dangote has expressed interest in using Ghana as a hub for large-scale cocoa processing, according to Finance Minister Dr Cassiel Ato Forson. Dangote personally reached out to Forson and President John Dramani Mahama with a proposal to process 500,000 metric tonnes of cocoa locally. This development was disclosed on Joy News' PM Express on Thursday, 12 November, a day after Forson presented the 2027 Budget to Parliament.
The proposed deal is tied to a target set out in the 2027 Budget, which aims for Ghana to process more than half of its cocoa domestically by 2028, rising to full local processing by 2030. Dangote believes he can help Ghana reach the 50 per cent mark on his own. The push is part of a broader plan to move Ghana away from exporting raw, unprocessed beans toward producing cocoa liquor, butter, cake, powder, chocolate and cosmetics domestically.
The government aims to revive the state-owned Cocoa Processing Company and has directed that at least half of cocoa beans from the 2026/27 crop season be processed locally. The Dangote proposal would add significant capacity to that effort if it goes through. This initiative sits within the government's US$3 billion commercial agriculture programme, a component of a wider US$10 billion, four-year economic transformation agenda aimed at expanding domestic production and agro-processing while creating jobs.
Dr Forson expressed optimism about the Dangote engagement but did not disclose a timeline for concluding the contract or specify how much the Nigerian billionaire's investment would be worth. The two sides are still negotiating the terms of the arrangement, and no contract has yet been signed. Cabinet had already directed in February 2026 that at least half of cocoa beans from the 2026/27 crop season be processed locally.
The cocoa initiative is part of a wider transformation agenda that includes plans to build a Western Corridor Railway without borrowing and a proposed medical tourism hub by 2027. While Dr Forson outlined these budget commitments to Parliament, opposition lawmakers have raised concerns over other elements of the budget.
The government's economic transformation agenda aims to expand domestic production and agro-processing while creating jobs. The proposed cocoa processing deal with Dangote would contribute to this goal if it materializes. However, the Minority has slammed the 2027 Budget over a silent women's bank pledge, highlighting concerns over certain budget elements.
The Dangote proposal and the government's cocoa processing targets are crucial to Ghana's economic development plans. With Dangote's potential investment, Ghana could significantly increase its domestic cocoa processing capacity. The Finance Minister's disclosure has generated interest in the cocoa sector, and stakeholders will be watching closely as negotiations between Dangote and the Ghanaian government progress.
Key points
- The proposed deal aims to process 500,000 metric tonnes of cocoa locally.
- The target is to process more than half of Ghana's cocoa domestically by 2028.
- The initiative is part of a US$3 billion commercial agriculture programme.
