Government and Ghana Cocoa Board (COCOBOD) are creating the enabling environment for investors who intend to go into manufacturing chemical formulation and fertilizer plants in the country, Mr Hackman Owusu-Agyemang, the Board Chairman of COCOD, has said.
Addressing participants at a three-day West African Fertilizer and Agribusiness Conference in Accra, Mr Owusu-Agyemang encouraged investors to take advantage of the government’s “One district, One factory” initiative to identify fertilizer needs of specific cocoa districts and set up factories to supply farmers with the requisite fertilizers and other inputs.
He said there were numerous investment opportunities in the cocoa sector under the New Cocoa Sector Transformational Agenda of COCOBOD.
“Partnership is what we require to play our role as the producer of number one quality cocoa in the world.
“We therefore invite fertilizer and other input manufacturers, traders, suppliers and investors herein gathered to align your programmes to support efforts of government, the Board and Management of COCOBOD for our mutual benefits,” he stated.
Mr Owusu-Agyemang, therefore, advised investors to seek independent appraisal of the viability of specific areas of interest as well as understanding the laws, by-laws and regulations governing the cocoa sector in the country.
“Opportunity exists for potential investors to establish modern commercial cocoa plantations. The Cocoa Research Institute of Ghana is available to provide the necessary advisory services on suitability of soils and general cocoa agronomy to potential investors,” he emphasised.
Mr Owusu-Agyemang noted that the future of Ghana’s cocoa industry looked bright and held many prospects for sustainable cocoa economy in the years ahead.
He said government and managers of the cocoa industry were harnessing all resources, human, financial and material towards its viability.
“Cocoa industry plays an important role in the provision of employment for about 800,000 farm families in the country. It also serves as a major source of foreign exchange and government revenue for the provision of socio-economic infrastructure such as roads, hospitals and schools,” he stated.
The event was organised by Commodities Research Unit, a leading global metals, mining and fertilizers analysis and consultancy business in collaboration with the African Fertilizer and Agribusiness Partnership.
It attracted more than 250 participants from 43 countries worldwide to discuss how farmers could obtain the right fertilizer, at the right time and for the right price.
The conference afforded some agro-chemical manufacturing companies the opportunity to showcase their products and network.