Mahama to launch scholarship scheme for ‘children’ of cocoa farmers

President John Dramani Mahama has put measures in place to begin a new Tertiary Education Scholarship Scheme to be enjoyed by children of cocoa farmers. This initiative is scheduled for the 2026/2027 academic year.

Finance Minister Dr. Cassiel Ato Forson made this announcement at a press conference held on Monday, August 4, 2025, where he also listed the government’s latest cocoa pricing structure. This initiative forms part of President Mahama’s plans to ease the burden of cocoa farmers and improve their living standards.

The project will be developed and managed by the Ghana Cocoa Board (COCOBOD), starting with preparations during the 2025/2026 cocoa season.

“Ladies and Gentlemen, it is my pleasure to announce to cocoa farmers that President Mahama has introduced a Tertiary Education Scholarship Scheme for children of cocoa farmers,” Dr. Forson said at the briefing.

He further noted, “In the 2025/26 season, COCOBOD will develop modalities and implement the Cocoa Tertiary Scholarship Scheme, which will take effect from the 2026/27 academic year.”
The announcement coincided with a significant policy update that included a major hike in the cocoa producer price.
With this new development, the price per tonne has increased from US$3,100 to US$5,040, making a significant increase of 62.58%. This development fulfills a campaign promise made by President Mahama to ensure that farmers receive no less than 70% of the Free-On-Board (FOB) value of cocoa exports.

Dr. Ato Forson made it very clear that the new price is not solely about the numbers. He added that it highlights a deepened commitment to the well-being of Ghana’s cocoa farmers.
“This is about ensuring dignity, opportunity, and a better future for our farmers and their children,” he said.