The Ghana Cocoa Board (COCOBOD) is projecting a significant boost in cocoa production for the 2024/25 season, anticipating over 800,000 metric tons, following a substantial GHC943 million investment aimed at rehabilitating aged and disease-ridden cocoa farms.
This effort is part of a broader strategy to revive the cocoa sector and support the livelihoods of farmers.
COCOBOD’s Chief Executive Officer, Joseph Boahen Aidoo, revealed that the nearly billion-cedi investment made last year was crucial to restoring cocoa farms affected by the devastating swollen shoot virus disease (CSSVD) and aging trees.
These initiatives, he explained, are essential to sustaining the country’s cocoa output and ensuring the welfare of farmers.
In an interview, Mr. Aidoo and his Deputy CEO in charge of Finance and Administration, Ray Ankrah, addressed concerns raised in the media regarding COCOBOD’s rising administrative expenses, which reportedly hit GH¢3.4 billion last year.
The CEO clarified that this figure includes the substantial funds allocated to rehabilitate cocoa farms, countering claims that the money was solely spent on administrative overhead.
“The money was used to fund the cutting down of diseased and aged farms, nurse, and plant seedlings as well as maintain the rehabilitated farms before handing them over to farmers across the country,” Mr. Aidoo stated. He stressed that these strategic investments were necessary and justified the increase in administrative costs.
Mr. Ankrah further elaborated that a significant portion of the administrative costs was related to the GHC943 million expenditure on productivity enhancement programs (PEPs).
He noted that this expenditure, which was supported by a loan from the African Development Bank (AfDB), was a one-time cost that played a pivotal role in sustaining the livelihoods of affected farmers and boosting future cocoa production.
The Deputy CEO dismissed claims that the administrative expenses were excessive, stating, “The GH¢943 million was actually used to rehabilitate diseased and moribund farms to sustain the livelihood of the affected farmers and increase cocoa production, starting with the 2024/25 season.”
He added that, excluding this one-off expenditure, COCOBOD’s administrative costs had actually decreased in 2023.
Addressing the broader impact of the swollen shoot virus disease, Mr. Aidoo emphasized that the rehabilitation of cocoa farms is critical for maintaining the sector’s viability. The disease, which significantly reduces cocoa yields before killing the trees, has been a major factor in the recent decline in national cocoa production.
COCOBOD’s efforts, he said, are vital to preventing further loss of productive land and ensuring the continued benefits derived from cocoa farming.
Mr. Aidoo also highlighted the board’s commitment to supporting farmers with adequate and timely inputs for the upcoming season, including hand pollination, pruning, and irrigation initiatives.
These efforts are not only aimed at increasing production but also at making cocoa farming more appealing to the younger generation, encouraging more youth to enter the sector.
On the financial front, Mr. Ankrah pointed to COCOBOD’s successful turnaround in 2023, where the board recorded a profit of GH¢2.3 billion, a significant recovery from the GH¢4.2 billion loss in 2022.
He attributed this to prudent financial management and ongoing efforts to enhance cocoa production and profitability, despite the challenges posed by the COVID-19 pandemic.
In conclusion, Mr. Aidoo assured farmers of COCOBOD’s continued commitment to implementing better policies and programs in the upcoming season, in line with the government’s goals of improving farmer livelihoods and sustaining the country’s cocoa production.