Ghana Cocoa Board (COCOBOD) has disclosed that investment opportunities abound in cocoa farming, particularly in agro-input supply, cocoa processing to the tertiary level, internal marketing of cocoa beans, as well as the development of new products from cocoa and shea by-products.
This was made known at a meeting of COCOBOD Management and a delegation of investors from South Africa who were in Ghana to explore investment opportunities in the cocoa sector.
Speaking on behalf of the Chief Executive of COCOBOD, Dr. Francis Oppong, Deputy Chief Executive in charge of Agronomy & Quality Control said cocoa is indispensable to Ghana’s economic growth, adding that the crop injects over $2 billion into the economy every year. He entreated the investors to identify specific areas of interest in the cocoa sector for investment.
Dr. Oppong further explained that Ghana’s cocoa has remained the benchmark for measuring world cocoa mainly because COCOBOD, through its Subsidiaries and Divisions, ensures that the best agronomic practices are observed throughout the cocoa value chain. He was optimistic of a sustainable cocoa economy following the implementation of several pragmatic interventions by COCOBOD to support the country’s main cash crop.
Also at the meeting were Mrs. Miriam Okwabi, Deputy Chief Executive (Finance & Administration), COCOBOD and Mr. James Kutsoati, Deputy Chief Executive (Operations) COCOBOD. Mrs. Okwabi said that COCOBOD is able to promptly pay remunerative price for farmers produce through prudent financial transactions with a consortium of local and international banks.
In a brief statement, H. E. Lulama Xingwana, the South African High Commissioner to Ghana, who led the team of investors to COCOBOD commended the unique flavor of chocolate produced from Ghana cocoa. She was hopeful that the encounter with COCOBOD would provide fruitful grounds for business between the two countries.
Ms. Nompumelelo Maisela of the Department of Trade and Industry, South Africa (Black Industrialist) together with her counterparts, Mrs. Mmaphutego Zitha, Department of Trade and Industry (Trade Invest Africa) and Ms. Nontwenhle Mchunu, Mkabayi Group (Business) were among the delegation who expressed optimism in partnering COCOBOD in cocoa beans supply and development of new products from by-products of cocoa and shea.
Picture: In the front row is H. E. Lulama Xingwana, the South African High Commissioner to Ghana (left), Mrs. Miriam Okwabi, Deputy Chief Executive (Finance & Admin) COCOBOD, Dr. Francis Oppong, Deputy Chief Executive (Agronomy & Quality Control) COCOBOD (2nd left), Mr. James Kutsoati, Deputy Chief Executive (Operations) COCOBOD (1st right), and some of the investors.