Vice President pushes for increased local cocoa processing to boost the economy

Vice President Professor Naana Jane Opoku-Agyemang has emphasized the need for enhanced local processing of Ghanaian cocoa to augment national revenue, generate employment opportunities, and fortify the country’s stance in regional and global markets.

The Vice President made these remarks during a strategic meeting with the leadership of the Cocoa Processing Company, led by Managing Director Professor William Coffie.

The engagement centered on strategies to expand Ghana’s cocoa value-addition agenda and amplify the competitiveness of Ghanaian cocoa products.

‘Processing our cocoa locally is not merely an economic imperative; it is vital to Ghana’s industrial growth and economic sovereignty,’ Professor Opoku-Agyemang stated. ‘By adding value domestically, we ensure that Ghanaian cocoa products compete favorably in both African and international markets.’

The Cocoa Processing Company highlighted its recent achievements, including a 100% increase in its share price over the past three months, reflecting renewed investor confidence. Professor Coffie noted,

‘The growth in our share price demonstrates the global recognition of Ghana’s cocoa potential and the Cocoa Processing Company’s commitment to excellence.’

The Vice President urged CPC to expand its domestic distribution channels, specifically targeting senior high schools nationwide. “This untapped market has the potential to boost local consumption, support youth nutrition, and cultivate a new generation that values Ghanaian products,” she stressed.

In terms of continental expansion, Professor Opoku-Agyemang highlighted the African Continental Free Trade Area (AfCFTA) as a strategic platform. “CPC has the opportunity to introduce Ghanaian cocoa products to the African market. AfCFTA provides the ideal avenue for market growth, enhanced competitiveness, and showcasing our high-value products globally,” she stated.

Concluding the meeting, the Vice President reaffirmed the government’s commitment to supporting strategic institutions like CPC.

“Our mission is to transform Ghana’s cocoa sector from exporting raw beans to exporting proudly Ghanaian, high-value products. CPC is spearheading this effort, and the government will continue to provide full support,” she said.