AgribusinessBusinessEconomy

GIPC holds first-ever cocoa value chain investment meeting

GIPC says the event will highlight the many opportunities along the cocoa value chain that can be leveraged by investors

The Ghana Investment Promotion Centre (GIPC) will on Thursday 27 May 2021 host a cocoa value chain investment meeting in Accra to stimulate discussion around the exciting prospects for the country’s cocoa industry.

Under the theme “Ghana’s Brown Gold: Sustaining Investments and Leveraging AfCFTA”, the event will highlight the opportunities along the cocoa value chain that can be leveraged by investors, as well as sensitise industry players to the valuable commercial opportunities offered by the African Continental Free Trade Agreement (AfCFTA).

With leading stakeholders such as Ghana Cocoa Board (COCOBOD), the Cocoa Value Addition Artisans Association of Ghana (COVAAAGH) and Niche Cocoa Industry Ltd, the deliberations will centre on policy interventions being rolled out by the government to foster growth in the sector, and how the cocoa business can be further enhanced.

Generating roughly US$2 billion annually in foreign exchange, cocoa continues to play an important role in Ghana’s economy, as a major contributor to government revenue. The industry employs approximately 800,000 farming families and has grossly expanded economic activities in rural communities in Ghana.

Open to partnership

Despite the immense contribution of cocoa as a commodity, the problem of how to achieve “cocoa value addition” has lingered for years. Successive governments have made it a national goal ito enhance earnings from the industry and optimise the vast potential of the cocoa value chain.

According to the chief executive officer of the GIPC, Yofi Grant, the volatility of cocoa prices on the international market makes it imperative for industry players to add value to their cocoa produce.

He added that Ghana is open to inviting more investors into the industry, and there is a concerted effort to partner investors seeking to industrialise the cocoa sector and add value to cocoa beans.

COCOBOD has equally stressed the need for multi-stakeholder partnerships in advancing the cocoa industry. It is seeking joint efforts for planting and harvesting, purchase collection and bagging, haulage, partial warehousing, pest and disease control, research and development, external marketing, quality assurance and processing.

GIPC hopes that its cocoa value chain investment meeting will encourage business-to-business engagements between local and foreign industry players in upscaling the sector.

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