New CMC Governing Board to Drive Export Efficiency and Combat Smuggling
The Government of Ghana has inaugurated a new Governing Board for the Cocoa Marketing Company (CMC) Limited, a wholly owned subsidiary of COCOBOD responsible for the sale and export of Ghana’s cocoa. The country intensifies efforts to combat smuggling and improve operational efficiency in its cocoa value chain.
The nine-member board, inaugurated by Deputy Minister of Finance, Hon. Thomas Ampem Nyarko, is chaired by the Majority Leader in Parliament, Hon. Mahama Ayariga. The company’s Managing Director, Dr Wisdom Kofi Dogbey, also joins the board as a key executive member. The reconstituted leadership is expected to set a strategic course for CMC that prioritises sustainability, higher farmer returns, and robust export mechanisms to keep Ghana competitive in the global cocoa market.
“The Board is being entrusted with the responsibility of repositioning the CMC to meet the evolving demands of the international cocoa trade while ensuring Ghana’s cocoa farmers are adequately rewarded,” the Deputy Minister said during the swearing-in ceremony. He also emphasised the importance of addressing persistent smuggling, which has eroded revenues and distorted internal trade flows.
Smuggling cocoa beans into neighbouring countries, where farm gate prices are often higher, remains a critical challenge. Analysts estimate Ghana could be losing tens of thousands of metric tonnes annually, straining forex earnings and undermining sectoral credibility.
With Ghana currently ranked as the world’s second-largest cocoa exporter, the Cocoa Marketing Company plays a pivotal role in managing forward sales contracts, securing premium markets, and facilitating syndicated loans that sustain annual cocoa purchases. The new board, therefore, steps into office at a crucial time when the cocoa industry is pressured from climate-related yield disruptions, global price volatility, and the growing impact of sustainability regulations from major consuming markets in Europe and North America.
Board Chair Hon. Mahama Ayariga, known for his policy acumen and parliamentary leadership, is expected to bring political weight to CMC’s reforms. People view his stewardship and Dr Dogbey’s operational oversight as a combination that could accelerate institutional realignment within the company.
Other board members include:
- Mr Noah Tumfo
- Mrs Matilda Asiedu Asante
- Hon. Kofi Benteh Afful, MP
- Hon. Desmond De-Graft Paitoo, MP
- Mr Abraham Appiah Kubi
- Nana Kwasi Ofori
- Mr Johnson Nana Kyei
The composition reflects a blend of political, technocratic, and industry experience in what the Finance Ministry hopes will be a “high-impact, reform-orientated board”.
Sector watchers say CMC’s operational recalibration must focus not only on external market optimisation but also on internal mechanisms, such as digitising supply chain processes, strengthening traceability, and improving warehouse logistics to ensure long-term viability.
The Board’s mandate includes pursuing stronger inter-agency coordination with COCOBOD’s other subsidiaries, such as the Quality Control Company and Cocoa Research Institute, while aligning CMC’s work with the government’s broader agricultural transformation agenda.
In recent years, Ghana’s cocoa sector has attracted global scrutiny over issues such as deforestation, child labour, and sustainability. A well-functioning CMC, experts argue, is indispensable to maintaining the country’s credibility with buyers, partners, and financiers.
By reinforcing CMC’s governance, government stakeholders are hoping to restore confidence in cocoa earnings as a resilient pillar of Ghana’s forex generation strategy at a time when the economy is still navigating post-debt restructuring uncertainty.
The Board is expected to convene its first strategy session in the coming weeks to map out priority interventions.
