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Company News on Friday, June 7, 2019
Source: clbadfmonline.com
2019-06-07
CEO of COCOBOD, Jospeh Boahen Aidoo
A 17-member delegation from Stanbic Bank-Ghana's Standard Bank Group met with Ghana Cocoa Board (COCOBOD) President and CEO, Joseph Boahen Aidoo, as part of the country's immersion program. Company learning opportunities on how to develop the business and banking sectors in Africa.
In briefing the delegation on COCOBOD's operations, Mr. Aidoo presented the many economic contributions made by the Council to the cocoa economy in Ghana and around the world.
According to him, Ghana is the second country behind Côte d'Ivoire in the main cocoa-producing countries and produces high-quality cocoa beans to feed the world confectionery market.
He revealed that Ghana produces about 20% of cocoa in the world each year and that with Côte d'Ivoire, both countries produce about 60% of it.
Aidoo said Ghana currently produces an average of 900,000 metric tons of cocoa a year, or about $ 2 billion in revenue.
He regretted that the revenues of Côte d'Ivoire and Ghana each year amount to about $ 6 billion, which, in his opinion, is very low given the fact that the world cocoa market is valued at 100 billion dollars.
According to the Director-General, low incomes have forced some farmers to sell their land to clandestine miners, a development that he says poses a threat to the survival of Ghana's cocoa industry and the global cocoa economy.
Mr. Boahen Aidoo told the team that, apart from the fall in world cocoa prices that affect farmers, the issue of climate change has become a major threat to the sustainability of the cocoa sector, adding that various measures are being taken to mitigate cocoa production in the country.
He added that COCOBOD had put in place productivity-enhancing programs, such as cocoa farm rehabilitation, mbad-size and manual pollination, among other interventions, aimed at ensuring increased and sustainable cocoa production. Ghana.
For his part, Standard Bank group leader Steve Hall congratulated COCOBOD for its huge contribution to the global cocoa sector. He promised that his bank would continue to support the union's annual syndicated credit facility for the purchase of cocoa.
The meeting in Accra is part of a program for 80 Standard Bank group directors, and Ghana has been identified as one of the countries offering a spirit development experience and opportunities for business development. 'Africa.
The team then went to the Ghana Cocoa Research Institute (CRIG), the Cocoa Processing Company (CPC) and the Cocoa Marketing Corporation, Tema (CMC), to learn more directly with the activities of the Committee.
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