COCOBOD SECURES WORLD BANK FINANCING TO BOOST COCOA REHABILITATION PROGRAMME

Date: 05th July 2024

Ghana Cocoa Board (COCOBOD) has secured a US$100 million financing facility from the World Bank to further support its cocoa rehabilitation programme, aimed at revitalizing the country's cocoa industry. 

Hon Joseph Boahen Aidoo, Chief Executive of COCOBOD, made this revelation during an interactive engagement with a group of farmers on a 30-acre cocoa farm at Assin Sienchem in the Assin North District belonging to Theophilus Tamakloe, the 2022 Central Regional Best Cocoa Farmer.

The announcement came on the second day of a four-day tour of the Central and Western South Cocoa Regions, which began on Wednesday, 3rd July.

The COCOBOD boss, expressed optimism about the programme, stressing that the facility from the World Bank will provide the much-needed financial support to tackle the pressing challenge of moribund, diseased and ageing cocoa trees.

“By rehabilitating our cocoa farms, we are not only securing the livelihoods of our farmers, but also ensuring the sustainability of our cocoa industry for future generations," Hon Aidoo emphasised. 

So far, five key cocoa-producing districts have been earmarked to benefit from the rehabilitation efforts which will be funded with the World Bank facility.

Assin Foso, New Edubiase, Juaso, Nkawkaw, and Konongo districts were selected based on the severity of the impact of cocoa diseases and the age profile of many of the cocoa trees in those locations. 

The rehabilitation programme involves the systematic removal of diseased, moribund, and aged cocoa trees, which have significantly affected cocoa production levels. The farms are then replanted with disease-tolerant, early-bearing, high-yielding cocoa varieties to increase production.

The programme is expected to improve farmers' production volumes and incomes within the medium term and contribute to the overall economic development of the regions involved.

As the rehabilitation programme progresses, COCOBOD plans to further expand its reach to other cocoa-producing regions in the country, ensuring that all affected areas receive the necessary support. 

Farmers present at the announcement welcomed the initiative, expressing hope that the rehabilitation efforts will indeed increase yields and improve the quality of their cocoa beans. Speaking on behalf of the farmers, Theophilus Tamakloe expressed gratitude to COCOBOD for the support.

The team then proceeded to farmer rallies at Assin Nyankomase and Twifo Praso. These events collectively gathered approximately 2,000 cocoa farmers, creating a platform for open dialogue and exchange of ideas.

At the rallies, Hon Aidoo discussed enhancing productivity, sustainable farming practices, the process for determining the producer price and the support available from COCOBOD to improve the welfare of cocoa farmers.