government has announced to spend $600 million stimulus package into the cocoa
sector under the cocoa productivity enhancement program aimed at stimulating
growth in the cocoa industry, rising cocoa production to over 1.5 million
tonnes by 2027.
The fund is being provided by the African Development Bank and is expected to be approved by Cabinet after which officials of COCOBOD would travel to South Africa to start efforts towards the drawdown of the amount.
The stimulus spans about seven years period and will look at issues like rehabilitation of plantation, improvement in storage and domestic processing.
The stimulus will target rehabilitation of plantations, improvement in storage and domestic processing, stimulation of local consumption as well as efforts to increase output on farms among others and spans 7 years.
The Administration believes that Cocoa, being a major pillar of our economy cannot be allowed to survive at its own pace.
Source: Kofi Atakora/Joydaddymultimedia.com