Ghana’s Timber Exports to Enter EU, COCOBOD Expects $4bn Inflows, and Youth Joblessness Still High

Ghana’s financial and economic outlook saw a mix of historic progress and lingering challenges this week. From timber exports finally gaining licensed access to Europe, to cocoa inflows expected to strengthen reserves, and unemployment data revealing persistent youth joblessness, here are the latest insights from the Cedi Board.

Ghana’s Licensed Timber Exports Begin to Europe in October

Ghana will officially launch its Forest Law Enforcement, Governance, and Trade (FLEGT) licensed timber exports to the European Union on October 8, 2025. This milestone marks the culmination of a 16-year journey to strengthen forest governance, enforce timber legality, and promote sustainable trade.

Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, highlighted Ghana’s achievement during the 13th Session of the Joint Monitoring and Review Mechanism with the EU. Ghana now becomes the first African country and second globally after Indonesia to issue FLEGT licenses.

The initiative includes new forestry laws, advanced wood-tracking systems, and stakeholder training, ensuring all timber exports meet global standards of legality and traceability.

The EU Ambassador to Ghana, Irchad Razaaly, praised the effort as a “long chain of commitment, responsibility, and political support”, noting that the development gives Ghanaian timber unfettered access to the EU market of 450 million people.

Looking ahead, the government is urging the Forestry Commission to accelerate reforestation under President John Mahama’s Tree for Life initiative to restore degraded lands and strengthen forest sustainability.

COCOBOD Expects Over $4 Billion in Inflows Before Year-End

Bank of Ghana Governor, Dr. Johnson Asiama, has revealed that COCOBOD is projecting more than $4 billion in inflows before the end of 2025 to finance cocoa purchases for the new crop season.

This inflow follows COCOBOD’s new financing model requiring global traders to deposit at least 60% of forward contract values upfront, replacing the decades-old syndicated loan system. The funds will directly support licensed cocoa buying companies (LBCs), ensuring timely payments to farmers while strengthening Ghana’s forex reserves.

According to Dr. Asiama, Ghana’s international reserves stood at $11.1 billion in July, and the new funds will improve the Bank of Ghana’s ability to stabilize the cedi. “Our net international reserves have not run out, and all the indicators point to a favourable outlook,” he assured.

The Governor warned that individuals exploiting loopholes in the forex market will face sanctions, stressing the central bank’s commitment to discipline, transparency, and firm regulation.

Ghana’s Unemployment Rate Drops Slightly, But Youth Joblessness Persists

The Ghana Statistical Service (GSS) has reported a marginal decline in the unemployment rate from 13.3% in Q3 2024 to 13.1% in Q4 2024.

While this modest improvement suggests progress, youth unemployment remains alarmingly high. In 2024, joblessness among young people aged 15–24 stood at 32%, while 22.5% of those aged 15–35 were unemployed.

Government Statistician, Dr. Alhassan Iddrisu, stressed that the challenge requires urgent interventions such as:

• Scaling up apprenticeships and graduate employment schemes

• Reforming and expanding TVET programs to match training with demand in digital, green, and industrial sectors

• Expanding affordable credit for SMEs to drive youth and women employment

• Strengthening initiatives like the 24-hour economy policy to create flexible and accessible jobs

  
  

“This modest decline signals progress but reveals persistent distress,” Dr. Iddrisu noted, adding that targeted skills development and expanded labour market opportunities are key to reversing the trend.

Investor’s Insight – Ghana’s Freight Forwarding Market on the Rise

Ghana’s freight forwarding industry is projected to hit $3.83 billion by 2025, moving 5.96 billion tonne-km of goods, according to Statista. The growth in trade volumes presents strong opportunities for logistics, warehousing, and transport infrastructure investments.

For investors, this means tapping into a sector positioned to benefit from Ghana’s expanding trade and regional hub ambitions.

Today's Cedi Board captures Ghana’s growing reputation as a sustainable trade leader with the EU timber milestone, the resilience of its cocoa financing model, and the pressing need to tackle youth unemployment. Investors continue to find opportunities in freight forwarding and logistics, as Ghana positions itself for deeper integration into global trade.

Stay tuned to the Cedi Board® for real-time updates on Ghana’s financial pulse. From prices and policy to investment tips that help you make sense of the numbers.