Lulama Xingwana (left), Miriam Okwabi, Dr. Francis Oppong, (2nd left), James Kutsoati (1st right) and some of the investors in a pose
A group of investors from South Africa, led by Lulama Xingwana, South Africa’s High Commissioner to Ghana, have visited Ghana Cocoa Board (COCOBOD) on Friday to explore investment opportunities in the country’s cocoa subsector.
Commending the unique flavor of chocolate produced from Ghana’s cocoa, Xingwana expressed the hope that the encounter with COCOBOD would be mutually beneficial for the two countries.
The delegation also expressed optimism in partnering COCOBOD in cocoa beans supply and development of new products from by-products of cocoa and shea.
Among the investors were Nompumelelo Maisela of the Department of Trade and Industry, South Africa (Black Industrialist) together with her counterparts, Mmaphutego Zitha, Department of Trade and Industry (Trade Invest Africa) and Nontwenhle Mchunu, Mkabayi Group (Business).
Addressing the delegation on behalf of the Chief Executive Officer (CEO) of COCOBOD, Dr. Francis Oppong, Deputy Chief Executive in-charge of Agronomy & Quality Control, said cocoa is indispensable to Ghana’s economic growth, adding that the crop injects over $2 billion into the economy every year.
He explained that Ghana’s cocoa had remained the benchmark for measuring world cocoa mainly because COCOBOD, through its subsidiaries and divisions, ensures that the best agronomic practices are observed throughout the cocoa value chain.
He entreated the investors to identify specific areas of interest in the cocoa sector for investment.
Dr. Oppong told the delegation that investment opportunities abound in cocoa farming, particularly in agro-input supply, cocoa processing to the tertiary level, internal marketing of cocoa beans, as well as the development of new products from cocoa and shea by-products.
Miriam Okwabi, Deputy Chief Executive (Finance & Administration), COCOBOD and James Kutsoati, Deputy Chief Executive (Operations) COCOBOD, were also there to host the delegation.
Mrs. Okwabi said COCOBOD promptly paid for produce bought through prudent financial transactions with a consortium of local and international banks.
By Melvin Tarlue