By Maltiti Sayida Sadick
Dr. Wisdom Kofi Dogbey, the newly appointed Managing Director of the Cocoa Marketing Company (CMC), has outlined an ambitious plan to transform Ghana’s cocoa sector through value addition, operational efficiency, and investment in the workforce.
Speaking to host Maltiti Sayida Sadick on GTV Breakfast, Dr. Dogbey shared his desire to leave a lasting legacy that redefines CMC’s contribution to Ghana’s economy. With a background in finance and the private sector, he acknowledged that one of his early challenges was adapting to the slower decision-making processes typical of public institutions in Ghana.
Despite these hurdles, Dr. Dogbey remains optimistic. “Ghana’s cocoa is of premium quality, and the world recognizes it,” he said. He highlighted the company’s strong warehousing infrastructure, which includes a combined storage capacity of 467,000 metric tonnes across Kumasi, Tema, and Takoradi. Additionally, COCOBOD operates a further 50,000 metric tonnes capacity in Tema, positioning Ghana well to accommodate increased production.
Currently, about 70 percent of Ghana’s cocoa beans are exported to Europe. Under Dr. Dogbey’s leadership, however, CMC is actively seeking new markets. “We are diversifying. We are looking at North America, Canada, and in Asia, Malaysia, Indonesia, and Singapore,” he revealed, adding that Japan already hosts “Ghana Cocoa Stands,” a testament to the brand’s international appeal.
Citing President John Dramani Mahama’s emphasis on value addition to Ghana’s natural resources, Dr. Dogbey said CMC has established a technical committee to assess the feasibility of processing 50,000 metric tonnes of cocoa locally, a move projected to generate an additional $500 million in revenue.
On the financial front, Dr. Dogbey acknowledged the volatility of the global cocoa market but assured stakeholders that Ghana’s forward sales strategy provides stability. “About 70 percent of our cocoa is sold on a forward basis. This guarantees farmers at least 70 percent of the world market price, even when prices fluctuate,” he explained. He added that CMC is also developing advanced hedging strategies to further reduce market risks.
Dr. Dogbey’s leadership marks a new chapter for the Cocoa Marketing Company. His focus on innovation, global expansion, and value creation aligns with Ghana’s broader economic goals and signals a more resilient and competitive future for the country’s cocoa industry.
