In the news...

November 8th, 2019

Despite red flags raised by the minority in parliament, last Wednesday, parliament voted to approved the US$600 million loan facility for the Cocoa Productivity Enhancement Project being given to Ghana by the African Development Bank (AfDB) to restructure and revamp the cocoa industry.

The project which covers a seven year duration is not only aimed at significantly increasing productivity of cocoa beans from the current 900,000 metric tonnes to estimated 1.5 million metric tonnes by 2027, but most importantly to institute certain agronomic practices aimed at prevent outputs from further going down again.

In effect, expectations are that the move in securing the facility would largely contribute in the total transformation of the cocoa sector by the year 2027. Thus, with higher productivity in the sector, Ghana Cocoa Board (COCOBOD) can starts charging farmers commercial rates for their inputs in the sense that COCOCBOD has been making overall losses because of the cost of the inputs such as fertilizers and pesticides. Read more …