COCOBOD says it will soon come out with a funding arrangement aimed at partnering private companies to support them in cocoa processing.
President Akufo-Addo in a recent visit to Switzerland indicated that Ghana is moving from the export of raw cocoa beans to value addition.
Ghana is expecting to produce about 850,000 metric tonnes of cocoa for the 2019/2020 crop season.
Speaking to Citi Business News, the Public Affairs Manager of COCOBOD, Fiifi Boafo, said the funds, which will come from the African Development Bank, will hugely reduce the amount of cocoa Ghana exports in its raw state.
“We need money to help processors to be able to set up factories. Of course, we are not restricting every entrepreneur. If you are an entrepreneur going into processing, you must have a plan to know exactly what you seek to realize out of the business. What we are looking at is a funding arrangement that will help the entrepreneurs to be able to set up their factories to undertake their businesses,” he said.
COCOBOD to launch motorized pruner to improve cocoa yields
Last month, management of COCOBOD announced that it will soon launch a motorized pruner and cocoa irrigation project, to improve quality yields and help farmers make more money without expanding their farms.
Deputy CEO of COCOBOD in charge of Agronomy and Quality Control, Dr. Emmanuel Agyemang Dwomoh, stated that efforts are underway to engage and attract the attention of cocoa farmers with several initiatives.
Ghana to produce fine flavour cocoa soon with new lab and quality training centre
Meanwhile, Ghana will soon become a major producer of fine flavour cocoa beans according to Cocobod and management of the Cocoa Research Institute of Ghana, CRIG.
When this happens, Ghana will join Madagascar as the only country in sub-Saharan Africa which produces and exports both fine flavour cocoa beans and the bulk or ordinary cocoa beans.
Government in partnership with Glico TCHO, a leading Japanese food company which produces chocolates and confectioneries, has cut sod for the construction of the first ever Sensory Evaluation and Bean Quality Laboratory and a Quality Training Centre at Akyem Tafo in the Eastern Region.
The Sensory Evaluation and Bean Quality Laboratory and a Quality Training Centre when completed, will be the first ever flavour testing laboratory in Africa.