COCOBOD says it will soon come out with a funding arrangement aimed at partnering private companies to support them in cocoa processing.
President Akufo-Addo in a recent visit to Switzerland indicated that Ghana is moving from the export of raw cocoa beans to value addition.
Ghana is expecting to produce about 850,000 metric tonnes of cocoa for the 2019/2020 crop season.
Speaking to Citi Business News, the Public Affairs Manager of COCOBOD, Fiifi Boafo, said the funds, which will come from the African Development Bank, will hugely reduce the amount of cocoa Ghana exports in its raw state.
“We need money to help processors to be able to set up factories. Of course, we are not restricting every entrepreneur. If you are an entrepreneur going into processing, you must have a plan to know exactly what you seek to realize out of the business. What we are looking at is a funding arrangement that will help the entrepreneurs to be able to set up their factories to undertake their businesses,” he said.
Citibusnessnews