Akufo-Addo stimulates Cocoa industry with $600m
The Akufo-Addo administration, acting through the Ghana Cocoa Board (Cocobod) will inject a USD600-million stimulus package into the cocoa sector through a Cocoa Productivity Enhancement Programme, which is expected to, among other things, step up Ghana’s production to 1.5 million tonnes by 2027, Information Minister Kojo Oppong Nkrumah announced on Sunday, 3 November 2019 when he briefed journalists at Peduase, Eastern Region following a Cabinet meeting and retreat.
The stimulus package will target the rehabilitation of plantations, improvement in storage and domestic processing, the stimulation of local consumption as well as efforts to increase output on farms among others.
The programme spans a 7-year period.
The government said it believes cocoa, being a major pillar of Ghana’s economy, cannot be allowed to survive at its own pace.
“Cocoa farmers who have been the backbone of the Ghanaian economy already have good news for 2020 in the cocoa price structure but now get an additional dose through this stimulus package”, he said.
Source: Classfmonline.com
Trending Business
CRM to bring LPG closer to consumers – NPA boss
11:29Taxing foreign incomes of Ghanaians: GRA clarifies decision
10:17Newmont appoints mining industry veteran Francois Hardy as CTO
10:32IMF ‘more confident’ of taking Ghana prog. to Board in June
10:04'Only a miracle can save cedi' – Forex Bureaux Association says, 'We're not doing things right'
09:36Debt Restructuring: Government to reach agreement with IPPs in May
08:30Fuel prices won’t cross ¢18-mark – CBOD assures consumers
14:38A/R: Relocating us'll jeopardise our business – Angry Kwadaso Onion Market traders on eviction
12:222023: Zenith Bank bags ¢1.02bn profit, assets hit ¢13.86bn
11:00Our economy on the path of stability – Amin Adam
10:36