• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Ghana, La Cote d’Ivoire’s combined US$6bn yearly cocoa revenue meagre – Cocobod CEO

10/06/2019
Reading Time: 2 mins read
Ghana's cocoa policies

Cocoa farmers in Ghana harvesting Cocoa

0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

A 17-member delegation from the Standard Bank Group, the parent company of Stanbic Bank-Ghana, has met with the Chief Executive Officer of Ghana Cocoa Board, (COCOBOD), Mr Joseph Boahen Aidoo, as part of the company’s immersion programme of providing learning opportunities on how to grow Africa’s business and banking sectors.

Briefing the delegation on COCOBOD’s operations, Mr Aidoo outlined the numerous economic contributions of the Board to Ghana and the world cocoa economy.

According to him, Ghana is second to La Cote d’Ivoire in terms of top cocoa producing nations and produces premium quality cocoa beans to feed the world’s confectionery market.

He revealed that Ghana was producing about 20 per cent of world cocoa annually and together with La Cote d’Ivoire, both nations produce about 60 per cent.

Mr Aidoo indicated that currently, Ghana produces an average of 900,000 metric tonnes of cocoa yearly and this translates into about $2 billion in revenue.

He bemoaned that revenue accruing to La Cote d’Ivoire and Ghana annually is around $6 billion, an amount he believes is very low considering the fact that the world cocoa market is valued at an estimated $100 billion.

According to the Chief Executive, the low revenue had forced some farmers to sell off their farmlands to illegal gold miners, a development he says poses a threat to the survival of Ghana’s cocoa industry and the world cocoa economy at large.

Mr Boahen Aidoo told the team that apart from the falling global cocoa prices that affect farmers, the issue of climate change has become a major threat to the sustainability of the cocoa sector, adding that various steps are being taken to ameliorate the effect of climate on cocoa production in the country.

He further stated that COCOBOD has introduced the Productivity Enhancement Programmes (PEPs) such as the rehabilitation of cocoa farms, mass pruning, and hand pollination among other interventions, aimed at ensuring increased and sustainable cocoa production in Ghana.

For his part, the leader of the Standard Bank Group, Mr. Steve Hall commended COCOBOD for its enormous contribution to the world cocoa sector. He pledged his bank’s continued support in the Board’s annual syndicated Loan Facility for the purchase of cocoa.

The meeting in Accra is part of a programme for 80 chief executives of the Standard Bank Group, and Ghana has been identified as one of the countries that offers mind expansion experience and provides opportunities to grow Africa’s businesses.

The team later visited the Cocoa Research Institute of Ghana (CRIG), Cocoa Processing Company (CPC) and Cocoa Marketing Company, Tema (CMC) to have a first-hand experience on the activities of the Board.

Previous Post

Uber Ghana unveils medical insurance cover for riders at no extra cost

Next Post

Don’t panic; keep doing business with rural banks – BoG

Related Posts

National chocolate week 2021

National Chocolate Week kicks-off on 8th Feb: Ghanaians urged to eat more cocoa to fight COVID-19

08/02/2021
cocoabod syndicated loan, ghanatalksbusiness.com

Government set to increase price of Cocoa this year-Cocobod CEO

21/06/2020
Ghana's cocoa, ghanatalkbusiness.com

Cocoa farmers lauded for engaging in massive pruning

27/04/2020
Ghana's cocoa, ghanatalkbusiness.com

Cocoa syndicated loan in limbo due to COVID-19 pandemic

07/04/2020
cocoa farming

Cocoa farming receives further boost with launch of motorized equipment by COCOBOD

11/03/2020
Ghana's cocoa policies

$600m syndicated loan from AfDB to hit COCOBOD’s account soon

06/03/2020
Next Post
governor_of_bank_of_ghana

Don’t panic; keep doing business with rural banks – BoG

AGI_president

Association of Ghana Industries launches 8th industry and quality awards

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2023 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2023 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In