\n
Ghana\u2019s president-elect, John Dramani Mahama, has pledged to revamp the cocoa sector and reorganise the state-run regulator to stimulate growth and improve efficiency in the world\u2019s second-largest cocoa producer.<\/strong><\/p>\nIn an interview with Reuters on Friday, he criticised the cocoa industry structure where the cocoa marketing board (COCOBOD) competes with farmers for profits.<\/p>\n
\u201cCan we have a state enterprise that is the regulator and quality controller, and that creates an opportunity where the farmer is getting his money directly?\u201d Mahama said.<\/p>\n
\u201cWe will see how to restructure it (COCOBOD).\u201d<\/p>\n
The COCOBOD controls all aspects of cocoa production in Ghana \u2013 from seedlings to jute bag supplies for packing beans for exports. Previous attempts to break it up have failed.<\/p>\n
Mahama said his government would work out the restructuring modalities, hinting at private sector involvement in some areas handled by COCOBOD.<\/p>\n
A former president, Mahama secured a decisive victory in the Dec. 7 election, driven by voter dissatisfaction with the rising cost of living, instability and falling production in the country\u2019s key cocoa and gold sectors.<\/p>\n
As leader of the National Democratic Congress party, which also secured a wide majority in the parliamentary election, Mahama will take office on Jan. 7, as the economy recovers from its worst crisis in a generation.<\/p>\n
Mahama said one of his priorities would be to revamp cocoa and crude oil output to help lift growth and increase non-tax revenue.<\/p>\n
Ghana\u2019s cocoa production hit its lowest level in decades last season, dragged down by climate change, tree disease and wildcat gold mining.<\/p>\n
Reuters<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Ghana\u2019s president-elect, John Dramani Mahama, has pledged to revamp the cocoa sector and reorganise the state-run regulator to stimulate growth and improve efficiency in the world\u2019s second-largest cocoa producer. In an interview with Reuters on Friday, he criticised the cocoa industry structure where the cocoa marketing board (COCOBOD) competes with farmers for profits. \u201cCan we […]<\/p>\n","protected":false},"author":1,"featured_media":266296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-266295","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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