Business News of Tuesday, 4 July 2017
THE Board Chairman of Ghana Cocoa Board (COCOBOD), Hackman Owusu-Agyemang, has pledged the commitment of the new management to fix the mounting challenges inherited from the previous administration.
According to him, both financial and administrative challenges at COCOBOD are enormous but the new management and board have resolved to surmount them. He noted that a new paradigm shift would produce the expected result The Board Chairman made the promise when he led the Board and Management of COCOBOD to pay a courtesy call on the Okyenhene Osagyefo Amoatia Ofori Panyin at Ofori Panyin Fie in Kyebi in the Eastern Region.
“The President, Nana Akufo-Addo, has said COCOBOD must chart a new course and that is exactly why we are here to seek your good guidance and support to increase the yield,” the Board Chairman stated.
Owusu-Agyemang said COCOBOD was poised to achieve the one million metric tonnes cocoa production target earlier than expected due to the innovation the new management has brought on board.
The Okyenhene, who was full of praise for the new Board and management, assured them of his support and also urged them to be “revolutionary and visionary” in order to achieve the set target for COCOBOD. He, consequently, issued a fiat to all his sub chiefs to set up cocoa farms in each community to boost cocoa production.
On his part, Mr Joseph Boahen Aidoo, the Chief Executive of COCOBOD, expressed optimism that Ghana can reap huge benefits from its cocoa products by increasing local consumption and annual output of the product.
According to him, the quantum of cocoa exported to the world market was enormous hence causing volatility in the prices of the cash crop. He, therefore, called on Ghanaians to patronise more of its cocoa products to enable the country to reduce the quantum its export to reduce stock levels on the world market.
This, he said, would, in the long run, impact positively on the price of cocoa on the international market.