The Cocoa Value Addition Artisans Association of Ghana (COVAAAGH) has commended government for its commitment to facilitate the direct supply of premium cocoa beans to indigenous cocoa processing and manufacturing enterprises to produce high-quality products.
In a release signed by the President of COVAAAGH, George Adjei-Bekoe, the association described as “visionary” and “transformative” the new policy by government.
“This remarkable step will not only bolster the domestic cocoa value chain but also promote economic growth, job creation, and also increase Ghana’s share of the global cocoa and chocolate industry valued at $130 billion,” the release issued on Monday, September 18 said.
Signed by President George Adjei-Bekoe, the press release described as “visionary” and “transformative” the new policy by government.
Under the policy, announced on Saturday, September 9 by President Nana Addo Dankwa Akufo-Addo, the government will facilitate the direct supply of premium cocoa beans to indigenous small-scale cocoa processing and manufacturing enterprises, empowering them to produce high-quality cocoa-based products for the domestic and export markets.
According to COVAAAGH, the Cocoa Marketing Company’s current 50-metric tonne minimum threshold for the purchase of cocoa beans remains prohibitive to Ghana’s burgeoning artisanal cocoa value addition industry.
It said the situation forces local small-scale manufacturing enterprises to source semi-finished raw material from the Free Zones cocoa processing companies at exorbitant prices which include import duty, levies and taxes amounting to over 59 percent.
COVAAAGH urged “the government to expedite the implementation of this strategic move to harness the many potential impacts it has for the Ghanaian economy”.
It underscored the prospects of the policy and pledged to work “closely with the government to ensure its successful implementation”.
“We wish to assure the Government and Ghana Cocoa Board (COCOBOD), the sector regulator, of our readiness and commitment to work together with them for the smooth implementation of this transformative policy in order to achieve its intended purpose for the full benefit of the good people of Ghana and the growth of the local cocoa value addition sector.”