Coconut Industry Needs More Investment in Innovation… Mr Korboe urges
The Chairman of the Africa Coconut Group, Mr Davis Korboe has called for increased investment in research and innovation to unlock the full potential of the coconut industry.
Speaking at the launch of the fourth edition of the International Coconut Festival in Accra on Monday, he emphasised that the coconut sector holds transformative power, not just as a crop but as an entire value chain capable of driving economic growth and creating sustainable jobs.
Organised by the Ghana Export Promotion Authority (GEPA), in collaboration with the African Coconut Group and other key partners, this year’s festival is themed “Empowering Lives Through Coconut Innovation, Employment, and Sustainable Livelihoods.”
It focuses on leveraging new technologies and business models to address challenges such as unemployment, rural poverty, and environmental sustainability.
The festival also aims to build on the progress of previous editions and bring together a wide range of stakeholders to discuss the future of the coconut value chain.
Mr Korboe stressed the importance of sustainable production and innovation, urging stakeholders to explore opportunities in areas such as food, cosmetics, biofuels, and industrial applications.
He highlighted that in Ghana alone, over 250,000 people are employed daily in the coconut sector, demonstrating its critical role in the nation’s agricultural economy and its potential for further development.
In an address read on her behalf, the Chief Executive Officer (CEO) of Ghana GEPA, Dr Osafohene Dr Afua Asabea Asare, highlighted the festival’s core objective of creating awareness about the vast opportunities in the coconut sector.
“For three years running, this event has successfully brought together producers, processors, exporters, researchers, and other players in the coconut industry under one roof to explore everything coconut,” she stated.
She noted that coconuts, often referred to as the “tree of life,” have played a significant role in creating employment, driving innovation, and promoting sustainable livelihoods in rural areas.
The CEO praised the sector for its ability to transform coconuts into a wide range of products such as oil, water, milk, cosmetics, textiles, and biofuels, which has allowed Ghanaian businesses to compete on the global stage.
She also acknowledged the role of GEPA in collaborating with partners like the African Coconut Group, Crop Development Authority, and Solidaridad Ghana to advance the coconut agenda through value addition and sustainable farming practices.
She encouraged participants to take advantage of the opportunities the festival presents, as the industry continues to expand and create more jobs while fostering eco-friendly production methods.
The Western Regional Minister, Mr Kwadwo Okyere Darko Mensah in a speech read on his behalf expressed gratitude to stakeholders for their support of the International Coconut Festival and emphasised the Western Region’s vital role in Ghana’s coconut industry, which contributes around 80% of the country’s coconut exports and generates at least $400 million annually.
He highlighted the theme for the 2024 event and urged investors to explore opportunities in the Western Region to boost production and create jobs for the youth.
The main event is slated in Accra from October 21st to 23rd, 2024, which promises to be a significant occasion with industry experts sharing their knowledge.
