Construction of cocoa processing factory kickstarts in 2020 Q1
The construction of the proposed cocoa processing factory at Sefwi-Wiawso in the Western North Region is beginning first quarter of 2020, according to sources within Ghana Cocoa Board (COCOBOD).
Officials of COCOBOD and the Government of China on Wednesday signed a Memorandum of Understanding (MoU) to set up a cocoa processing factory.
The motive behind the establishment of the processing factory is to ensure that not less than 50 percent of cocoa beans produced are processed locally, Chief Executive of COCOBOD, Joseph Boahen Aidoo said, adding that it would contribute immensely to Ghana’s economy.
With the recent volatilities in the cocoa industry, it has become imperative that the country sought additional markets to the conventional ones in the Americas and Europe, hence the decision to set up the factory.
“The establishment of this factory is very critical because this is the first time a factory is coming closer to the people who produce cocoa in Ghana. It will also open the rural economy of the place and strengthen the cocoa supply chain,” the CEO stressed.
Ghana is the second largest producer of cocoa beans and currently processes 150, 000 metrics tonnes of cocoa bean locally per annum. This, Mr. Aidoo believes that it is imperative to expand Ghana’s cocoa production from 850,000 metric tons to 1.5 million in the medium term.
The Vice President of Genertec, Mr. Zhou Mingchum was happy about the partnership and noted that China is ready to enhance the relationship and further establish a community of mutual sharing.
According to him, Genertec is willing to implement the cooperation modules for the collective good of both countries. He, however, assured that his outfit is ready to address all the issues bothering the negotiations to ensure a successful commencement of the project to promote a sound economic development between the two countries.