COCOBOD BOSS URGES AGRIBUSINESS STUDENTS TO HARNESS COCOA'S ECONOMIC POTENTIAL

Date: 10th July 2024

The Chief Executive of Ghana Cocoa Board (COCOBOD), Hon. Joseph Boahen Aidoo, has urged agribusiness students to explore opportunities within the cocoa value chain to capitalize on the multi-billion-dollar global chocolate industry.

According to the COCOBOD boss, the time is right for Africa to move from merely being the major producer of raw cocoa to becoming a huge beneficiary of the economic prospects offered by the commodity. 

This, he said, can only be realized through cooperation among producers, deliberate policies, and increased awareness about both the economic and nutritional benefits of cocoa and cocoa products.

Hon. Aidoo made the call when he addressed students of the Nigerian College of Agribusiness, who were in the country as part of their international study programme to learn about Ghana’s cocoa industry and gain valuable insights into the country’s cocoa value chain.

Explaining the purpose of the visit, the head of the delegation, Dr. Ayodele Olorunfemi, expressed their appreciation for the warm reception, stressing that the visit was intended to offer an opportunity for the students to better appreciate the value of the cocoa industry. 

He added that the visit would also provide the students with a real encounter to acquire knowledge and experience about Ghana’s cocoa production system and the operations of COCOBOD, as well as, appreciate the local and international dynamics of the commodity.

In an enthralling encounter with the students, Hon. Aidoo delivered a comprehensive briefing on the organization’s operations, from administration and production to sales and marketing of the commodity. 

He observed that currently, the chocolate industry is worth over US$140 billion, stressing that the entire African continent, unfortunately, earns less than 4 percent of this amount annually and called for a paradigm shift in that narrative.

While commending the students for the laudable initiative to expand the frontiers of knowledge in agribusiness, he urged them to prioritize research into how Africa can also take advantage of the huge economic potential in the cocoa industry and encouraged them to brace themselves for the challenge.

The students presented a plaque to management as a token of gratitude.