President John Dramani Mahama has conveyed his belief that cocoa farmers will be pleased with the Ghana Cocoa Board Bill, which he has recently enacted into law.
He stated that the commitment he made to farmers regarding their entitlement to 70% of the global market price for cocoa is also enshrined in this Act; thus, it represents a promise made and a promise kept.
President Mahama made these remarks following the signing of ten significant legislative bills into law, which signifies a move towards structural reforms aimed at enhancing economic growth, addressing revenue leakages, modernizing the justice system, bolstering national security, and providing relief to Ghanaian workers and farmers.
The new laws span essential sectors of the economy, including business, law enforcement, maritime security, education, and social protection.
After the enactment of the bills, President Mahama, accompanied by his Chief of Staff, Julius Debrah, PhD, and various ministers of state, remarked that this legislative initiative fulfills critical government commitments and establishes a coherent legal framework for sustainable national development.
Among the new laws is the Ghana Cocoa Board Act, 2026, which obligates the government to uphold its promises to enhance the agricultural sector and ensure fair compensation for cocoa farmers.
“I am confident that our cocoa farmers will be satisfied,” President Mahama expressed. “It includes reforms for the cocoa sector and our commitment to process at least 50% of our cocoa beans domestically. Furthermore, the assurance we provided to farmers regarding their earnings of 70% of the world market price for cocoa is also included in this bill. Therefore, promise made, promise fulfilled.”
To safeguard low-income households, the President has approved the Income Tax Amendment Act, 2026, which alleviates tax obligations for low-wage earners.
“This Act exempts individuals earning the minimum wage and below from income tax. Anyone earning the minimum wage or less is exempt,” President Mahama announced.
Local industrial development has significantly advanced due to the Excise Act, 2026, which consolidates excise duties, prevents revenue losses on imported taxable goods such as alcohol and cigarettes, and provides specific tax exemptions for domestic processors.
“Crucially, it exempts local fruit juice manufacturers from excise tax,” the President stated. “This is intended to incentivize local production. If you manufacture fruit juices domestically, this Act allows you to avoid paying excise duty.”
To enhance fiscal discipline and improve revenue efficiency, President Mahama has approved three interconnected financial and commercial laws:The Customs Act, 2026, which consolidates all existing customs regulations into a single, cohesive statute to improve efficiency and prevent revenue loss.
“This comprehensive document integrates all amendments made over the years into one unified text. It simplifies administration and enhances efficiency. Furthermore, it will close the loopholes that have led to significant revenue losses for the government due to the fragmented nature of the law,” President Mahama remarked.
The Energy Sector Levies Amendment Act, 2026, addresses the widespread misuse of fuel oil exemptions that were previously taken advantage of by factories and maritime operators. Under the new legislation, operators are required to pay taxes upfront and provide verifiable evidence for reimbursement.
The Value Added Tax (VAT) Amendment Act, 2026, modifies VAT administration to align with recent monetary policy changes. Large-scale gold mining companies that remit 30 percent of their gold production to the Bank of Ghana are exempt from VAT on those amounts.
This legislative package introduces progressive reforms to Ghana’s penal system and judicial administration, with the goal of alleviating prison overcrowding and accelerating the delivery of justice.
In his discussion of the Community Service Act, 2026, President Mahama emphasized that non-custodial sentences will be utilized for minor offences, thereby conserving taxpayer resources and offering constructive rehabilitation alternatives.
“Rather than incarcerating individuals and incurring government expenses for the care of prisoners convicted of theft or other minor offences, they can instead be sentenced to perform community service for the duration of their conviction,” stated the President.
