Ghana, Cote d’Ivoire to secure $1.2bn loan for agenda to attract youth to cocoa industry

Mr Aidoo (in smock) addressing the media in Kumasi

Graphic Online, Sat, Aug 4, 2018

by Daniel Kenu

The governments of Ghana and Côte d'Ivoire are close to securing a $1.2 billion loan from the African Development Bank to undertake programmes and interventions that will make the cocoa industry attractive to the youth.

Six million dollars of the amount will go into the rehabilitation of the industry while the rest will be used to promote value addition to domestic processing of cocoa beans.

This was disclosed by the Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), Mr Joseph Boahen Aidoo, on the first day of a 10- day familiarisation tour of the Ashanti, Brong Ahafo and Northern regions where he shared with farmers, the interventions that the government was putting in place to resuscitate the industry.

Ghana's share of the facility will go to support the youth with seedlings and acquisition of land and stipend for three years when the gestation period is expected to end for them to be on their own.

According to Mr Aidoo, a cocoa factory is to be constructed at Sefwi Wiawso in the Western Region by the end of the year to add value to cocoa beans produced in the country. . . .

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