Tag: COCOBOD
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COVID-19 won’t affect preparations for syndicated loan – COCOBOD assures
The Ghana COCOBOD says it is still going ahead with processes towards the signing of this year’s syndicated loan scheduled for August. According to the regulator of Ghana’s cocoa sub-sector, it is engaging all relevant stakeholders such as banks and traders through audiovisual conference calls to keep the process on track. COCOBOD normally starts the…
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COCOBOD distributes 100,000 motorized pruners, slashers to cocoa farmers
The Ghana Cocoa Board (COCOBOD) has distributed 100,000 motorized pruners and slashers to cocoa farmers across the country. According to COCOBOD, this is part of policies being rolled out to encourage cocoa farmers to adopt best practices to boost production. The machine, which cost Ghc 5,000, has been distributed to the farmers through the various…
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COCOBOD to secure funding to support cocoa processing to boost value addition
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…
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AfDB satisfied with Ghana’s macroeconomic stability; set to release $600m cocoa loan
The African Development Bank (AfDB) says it will soon transfer a 600 million dollar loan facility it approved to COCOBOD to help grow Ghana’s cocoa sector. The agreement for the funds was signed in November 2019, but the money is yet to hit the accounts of the Bank of Ghana, due to procedural arrangements. Speaking…
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COCOBOD laments increasing use of cocoa farms for mining activities
Management of COCOBOD has described the upsurge in illegal mining in cocoa growing areas especially in the Fanteakwa South District of the Eastern Region as a worrying national crisis that needs immediate intervention by government. According to COCOBOD, the activities of these miners and the use of mercury by licensed small scale mining companies do…
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Ghana to produce fine flavour cocoa soon with new lab and quality training centre
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.…
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COCOBOD to launch motorized pruner to improve cocoa yields
Management of COCOBOD says 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. The Deputy CEO of COCOBOD in charge of Agronomy and Quality Control, Dr. Emmanuel Agyemang Dwomoh, says efforts are underway to engage and attract the attention…
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Living Income Differential is being applied without any issues – COCOBOD PRO
The Public Affairs Manager of the Ghana Cocoa Board (COCOBOD) Fiifi Boafo, has downplayed reports that chocolate makers around the world are finding ways of offsetting the cost imposed by the recently introduced living income differential (LID) on cocoa sales for the 2020/21 season. The 400 dollar-per-tonne ‘living income differential‘ was introduced in July of…
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Thirteen companies sue GRA and Cocobod over payment of VAT
Some thirteen Agricultural companies including Kuapa Cocoa and Olam Ghana and CDH Commodities, have sued the Ghana Revenue Authority and its Commissioner-General, as well as the Ghana COCOBOD and its CEO, over what they say is an imposition of Valued Added Tax (VAT) on them. The companies in their writ to the court say they…
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Parliament approves US$600m cocoa loan despite Minority’s concerns
Parliament has voted to pass the US$600 million loan agreement for the Cocoa Productivity Enhancement Project. The vote on the agreement was deferred yesterday [Tuesday] for want of numbers as the Minority raised red flags about the utilization of the proceeds of the loan. The Minority further intends to write to the lender, the African…