The Chief Executive Officer (CEO) of the Ghana Cocoa Board COCOBOD, Dr. Randy Abbey, has indicated that the government plans to introduce a new policy direction for Ghana’s cocoa industry.
Dr.Abbey made the remarks after a stakeholder engagement with cocoa processors, describing the consultations as a key step in shaping reforms within the sector.
He noted that processors play an extremely important role in the cocoa value chain, particularly in the area of value addition.
According to him, the meeting formed part of a series of engagements aimed at aligning industry players with the government’s strategy.
He explained that it was necessary to meet leaders in the processing sector to demonstrate the government’s commitment to strengthening value addition.
He disclosed that both the Finance Minister and the Minister for Trade, Agribusiness and Industry led the discussions.
He added that full details of the government’s policy direction would be outlined in a press briefing by the Finance Minister later in the day.
Dr. Abbey stressed that Ghana must rethink its long standing reliance on exporting raw cocoa beans.
In his view, a shift toward value addition is critical if the country is to create jobs, improve returns for farmers, and expand business opportunities.
He maintained that changing course in the cocoa industry would help generate greater wealth and support entrepreneurship.
The anticipated reforms are expected to address structural issues and promote increased local processing of cocoa.
By: Jacob Aggrey