World Cocoa Foundation announces $100m support for Ghana

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The World Cocoa Foundation (WCF) is to help grow the sector in Ghana with $100 million to support sustainable production, its President Richard Scobey has announced.

Speaking at a Cocoa Platform Validation Workshop in Accra on Friday, Mr. Scobey indicated that the investment would boost sustainable farming practices and production in Ghana’s cocoa sector, by reducing the impact of small-scale illegal mining (galamsey).

“We are very impressed with the quality and sustainability of the cocoa produced in Ghana. The WCF and our partners are very committed to partnering with COCOBOD and the farmers of Ghana on key sustainability issues.

The yields in cocoa in Ghana are relatively low as compared to world yields. We believe a collaboration will increase yields from 700,000 to 100,000 metric tonnes of Cocoa for the cocoa crop season,” he added.

Meanwhile, COCOBOD, the regulator of Ghana’s cocoa sector, has reiterated that it will meet its production target of 8500 tonnes by the close of the season.

Despite challenges from illegal small-scale mining and deforestation, COCOBOD said new interventions like the introduction of new seedlings have helped in cushioning the cocoa sector from the scourge of galamsey.

“The damage from galamsey is highly significant and we hope some interventions put in place including the replacement of diseased cocoa trees with highly effective and the provision of highly subsidized fertilizers, Ghana can produce more than what we are producing now,” said Dr Yaw Adu Ampomah, Deputy CEO of COCOBOD,

He added: “Our targets were around 900,000 metric and we are almost there in meeting it. We made the target in the major season and we are very confident of meeting production target.”

The Ghana Cocoa Platform was established in 2013 under the United Nations Development Programme (UNDP) to improve the sector’s value chain.

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