24.6 C
Accra
Friday, July 5, 2024
BusinessGalamsey causes COCOBOD to lose GH4.8 billion

Date:

Galamsey causes COCOBOD to lose GH4.8 billion

spot_img

Ghana Cocoa Board (COCOBOD) has said it has lost GH¢4.8 billion worth of investment in 35 hectares of cocoa farms to illegal mining (galamsey) activities at Boinso in the Western Region.

The investment covered the planting of new cocoa trees and plantain suckers, compensations to landowners and farmers, extension services, among other activities it was undertaking to scale up the country’s cocoa production.

- Advertisement -

Rev Edwin Afari, Executive Director, Cocoa Health, and Extension Division said a recent visit to the area saw that all the cocoa trees they planted had been cut down for galamsey.

“We have not even accounted for the harvesting that will be coming. It is just the investment; all the work we have done over there has gone to waste and so you can imagine what is happening,” he lamented.

- Advertisement -

He was speaking to the Ghana News Agency on the sideline of a ceremony to award some 15 blind cocoa farmers, a novelty by the Board to whip up interest in cocoa farming, particularly among persons with disabilities.

He observed that galamsey had had a dramatic impact on the cocoa industry in Ghana over the last 10 years, and as a major earner of foreign exchange, the country could suffer the blunt if the illegality continued.

- Advertisement -

Rev Afari averred that the State cocoa company was facing a hard time reviving the industry as cocoa farmers were giving out their farms willingly or under compulsion for galamsey.

“In the southern part of the Western North and some parts of Ashanti Region, especially the Manso Adobea, Antoakrom and the Enyinam areas, a lot of the miners are causing us a lot of trouble.”

“They are cutting away all the newly planted cocoa trees that we have, and it is really causing us a lot of investments,” she said.

He said Ghana risked losing its cocoa and, therefore, called on government, the Minerals Commission, and chiefs to help fight the menace to save the industry by not giving out concessions in cocoa-growing areas.

“Because this is what gets us foreign exchange and shores up our Cedi when it is depreciating, and also gives government more room to invest in all the development areas,” he said.

And to the farmers, Mr Afari noted that “the lump sum money may be good now but not in the future because cocoa is there all the time.

“If you do it well and you get 25 bags per hectare, you will be getting more money than you are getting now.”

He further expressed concerns over the aging population of cocoa farmers, citing the attendant looming dire impact on the economy and general development.

He was worried that many young people were not interested in agriculture in spite of the vast potential in the sector.

He admonished the youth, especially professionals from all fields, to venture into cocoa to create wealth for themselves and the country.

Rev Afari said the country was targeting 850,000 tonnes of cocoa this year as against last year’s 683,000.

Latest stories

About 99% of SHS students use mobile phones in school – Angel Carbonu

The President of the National Association of Graduate Teachers...

Mercedes-Benz car collides on the Legon-Okponglo road

On Thursday, July 4, a Mercedes-Benz car was severely...

Draft better laws to prevent a Kenyan situation – Kwame Agbodza to Parliament

The member of parliament for the Adaklu constituency in...

A/R: Motorbike collision burns 2 at Kwaagyekrom

A tragic head-on collision between two motorbikes on Tuesday,...

Cancer patients stranded as Korle Bu’s only treatment machine breaks down

Some cancer patients in the country have been left...

People are not leaving Ghana due to hardship – Gideon Boako

Dr. Gideon Boako the spokesperson for Vice President Dr....

ADR week to be observed from July 15 to 19

Chief Justice Gertrude Sackey Torkornoo has designated July 15...

Related stories

GIPC CEO justifies decision to scrap capital requirements for foreign businesses

Chief Executive of the Ghana Investment Promotion Centre (GIPC),Yofi...

Labour Bank: TUC to set-up bank to support its members

Trade Union Congress (TUC) has announced its intention to...

Implement sustainable revenue measures to restore macroeconomic stability – Gov’t told

Policymakers and academics have emphasized the urgent need for...

Ghana’s exports to EU countries surged 200 million euros in 2023

Ghana's trade with the European Union (EU) showed promising...

The term of BoG Governor must overlap that of the President to ensure continuity – IEA

The Institute of Economic Affairs (IEA) is urging substantial...

Ghana is rapidly leading in adoption of cryptocurrency – Report

The largest cryptocurrency exchange platform globally, Binance, published findings...

Key structural reforms improving Ghana’s economy – Abena Osei-Asare

Minister of State at the Finance Ministry, Abena Osei-Asare,...