The New Patriotic Party (NPP) government, under the leadership of President Nana Addo Dankwa Akufo-Addo, has taken bold and innovative steps to transform Ghana’s cocoa sector, positioning it for long-term viability and sustainability. At the forefront of this transformation is the Ghana Cocoa Board (COCOBOD), led by its Chief Executive Officer, Joseph Boahen Aidoo, who recently unveiled a landmark shift in how the cocoa sector is financed, along with other remarkable initiatives aimed at enhancing productivity for farmers. The initiatives show that the NPP government is committed to the welfare of cocoa farmers, making a solid case for continued support in the upcoming 2024 elections under the leadership of Dr. Mahamudu Bawumia.
One of the most significant changes introduced by the NPP government is the decision to finance cocoa purchases for the 2024/2025 crop season through a zero-borrowing arrangement. This innovative financial model departs from the previous system, where COCOBOD relied heavily on expensive syndicated loans from foreign sources to purchase cocoa. Under the new arrangement, international buyers will now pay directly into the Cocoa Marketing Company’s account on behalf of COCOBOD. This move eliminates interest payments and ancillary costs, reducing the financial pressure on COCOBOD and ensuring more sustainable operations.
Mr. Aidoo emphasized that this homegrown financing model is working well and will significantly ease the sector’s burden. It not only demonstrates the NPP government’s dedication to safeguarding Ghana’s cocoa industry but also reflects its prudent management of the national economy.
Another hallmark of the NPP government’s tenure has been the introduction of the Productivity Enhancement Programme (PEP), which has revolutionized cocoa farming practices in Ghana. Before this administration, only 5% of cocoa farmers engaged in vital practices like pruning, which are crucial for increasing yields. However, thanks to the PEP and the government’s focused efforts on training and resources, pruning is now a standard practice among cocoa farmers, contributing to a dramatic rise in productivity.
In 2016, cocoa farmers were producing an average of 450 kilograms of cocoa per hectare. Today, under the leadership of President Akufo-Addo, productivity has surged to 800 kilograms per hectare—a nearly 80% increase. This leap in yields directly benefits farmers by boosting their incomes and ensuring higher-quality produce for both the local and international markets.
The NPP government has also promoted various innovations in cocoa farming, including improved productivity-enhancing practices such as hand-pollination. These techniques are designed to improve the yield and quality of Ghana’s cocoa, positioning the country as a global leader in cocoa production.
The results speak for themselves: the NPP government has put in place sustainable systems that ensure Ghana’s cocoa industry not only thrives today but is also prepared to compete in the future.
As the NPP government under President Akufo-Addo has shown resolute commitment to the cocoa sector, cocoa farmers must support Dr. Mahamudu Bawumia, the NPP’s flagbearer for the 2024 elections. Dr. Bawumia has been an integral part of this administration, and he is well-positioned to continue the forward-looking policies that have already brought so much benefit to cocoa farmers.
Voting for Dr. Bawumia means voting to continue the zero-borrowing arrangement, which reduces financial strain on the cocoa sector. It also means supporting continued productivity-enhancing initiatives, which have already proven successful in transforming yields and incomes for farmers. Under Dr. Bawumia, cocoa farmers can trust that the progress made in the last eight years will not only be protected but will be further built upon to secure a better future for them and their families.
The NPP government has demonstrated its ability to innovate and implement effective policies that have transformed Ghana’s cocoa sector. From the zero-borrowing arrangement to the Productivity Enhancement Programme, these initiatives have made cocoa farming more profitable and sustainable. Cocoa farmers have every reason to trust that the NPP, under the leadership of Dr. Bawumia, will continue this positive trajectory. As the 2024 elections approach, cocoa farmers must rally behind Dr. Bawumia and ensure the continued growth of the sector that sustains their livelihoods.
By Nana Asare Baffour