Cocoa sector attract more investments despite challenges

Business News of Monday, 14 December 2015

Source: GNA

Cocoa11File photo

The country’s cocoa sector appears to be attracting investments from some foreign institutions. French Development Agency, AFD is the latest to invest in the sector.

This is in spite of the current challenges that have bedevilled the sector which have also triggered concerns of possible reduction in production levels in the upcoming season.

Adding value to the produce before exporting to generate more foreign exchange however remains a major challenge.

Speaking with Joy Business, Resident Manager of AFD Amelie July said her outfit is committed to supporting the country to achieve this goal.

She stated that “Ghana is very rich in terms of agriculture and it has a lot of potential. We at AFD are active in the agricultural sector because we’re in the rice sector, we’re in the rubber sector. We would like to also contribute to the cocoa sector which I think has huge potential.”

Ms. July noted that Ghana’s cocoa is better than “regular cocoa and that’s something that would help the youth, women and a lot of people earn a living and we think we have a role to play. “

The signing of a ‘bean supply agreement’ between the Ghana Cocoa Board (COCOBOD) and the Cocoa Touton Processing Company Limited (CTPC), a subsidiary of Touton S.A. of France which has already started processing cocoa beans locally is an indication of the agency’s commitment to Ghana’s cocoa processing course.

Adding value to the country’s cocoa produce would go a long way to generate more employment and increase consumption of cocoa in Ghana and the West African Sub-region.