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No seed fund for LBCs in 2024/25 due to lack of no syndicated loan – Randy Abbey

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The Acting CEO of Ghana Cocoa Board has revealed that for the 2024/25 cocoa season, COCOBOD did not secure a syndicated loan.

Dr. Randy Anerley Abbey said this effectively cuts off the traditional seed funding support to Licensed Buying Companies (LBCs), especially the indigenous ones.

“There was no syndicated loan, so no seed fund,” Dr. Abbey said in a blunt assessment of the current financial strain in Ghana’s cocoa sector.

“What we realise is that, although it is saving COCOBOD in terms of the financing cost… now the indigenous LBCs are unable to operate.

Dr. Abbey explained that in previous years, COCOBOD would raise an annual syndicated loan with international banks to finance the purchase of cocoa beans.

A portion of that loan would then be used to create “seed money”, which was disbursed to LBCs to enable them to buy beans from farmers.

“Under the syndicated loan, COCOBOD creates what it calls the seed money. And this seed money is what is given to the LBCs to go and purchase the bean”.

But this year, that system has been disrupted.

“We are not doing the syndicated loan. We are not doing 2025/26. For 2026/27, I don’t know, okay, but for 2025/26 we are not,” he stated.

The COCOBOD boss also noted that the financing climate has become increasingly hostile.

He warned that if COCOBOD had proceeded with a loan this year, it would have had to borrow around GH¢3 billion or GH¢3.5 billion, with banks demanding high interest rates.

“Because of the nature of our finances, you even have banks asking for 8% to 10% on $1.”

As a result, many local LBCs have been left in limbo, struggling to mobilise funds to purchase cocoa, a situation Dr. Abbey described as dire.

“If we continue with this financing model, I fear that most of them might go extinct.”

In a bid to prevent a collapse, COCOBOD is engaging the Bank of Ghana with a bold proposal.

Dr. Abbey said he has asked the central bank to release a portion of the Cash Reserve Ratio—the mandatory deposit commercial banks keep with the Bank of Ghana—to support cocoa purchases.

“Look, you have the Cash Reserve Ratio, where all the banks put 25% of their deposits at the central bank. This is idle, not doing anything. Now we have a critical industry, the indigenous LBC, dying off. Can we look at apportioning 2% or 3%…to support indigenous LBCs?”

He added that any funding released through this channel could be ring-fenced strictly for cocoa purchases.

“We can restrict it to cocoa purchases, just to ensure that they also don’t go using it for oil, tin tomatoes and all those things.”

Dr. Abbey stated that the Bank of Ghana had requested a formal letter to consider the proposal, and COCOBOD has complied accordingly.

“I’ve done that. This is one of the discussions we had with the central bank. We believe that if there’s a positive response, it will be able to help.”

He further indicated that COCOBOD is maintaining a 60-40 buying structure with cocoa buyers as part of its revised operational approach.

“So it’s the reason why I went to Europe and North America to meet the buyers and all that. We’re still doing the 60-40 with the buyers.”

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Benso Oil Palm Plantation declares GH₵2.13 dividend per share in 2024

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Benso Oil Palm Plantation (BOPP) PLC has announced a total dividend of GH₵2.1364 per share for the 2024 financial year, rewarding shareholders with nearly 80 per cent of the company’s profit after tax.

The declaration was made by the Chairman of the Board of Directors, Dr Alfred Mahamadu Braimah, during the company’s Annual General Meeting.

The total dividend comprises a final dividend of GH₵0.9085 per share and an earlier interim dividend of GH₵1.2270 per share, reflecting strong returns despite a marginal drop in production levels.

“This brings the total dividend pay-out for 2024 to GH₵2.1364 per share, representing 79.96 per cent of the company’s profit after tax,” Dr Braimah stated. He noted that this also constituted 91.61 per cent of the dividend payout achieved in 2023.

Addressing shareholders, Dr Braimah commended the company’s resilient performance in the face of both local and global headwinds.

In 2024, BOPP processed 121,787 metric tonnes of palm fruit, a slight decrease from the previous year due to seasonal changes and ongoing replanting efforts. The company also acquired 46,085 metric tonnes of fresh palm bunches from outgrowers in the Western and Central Regions, costing GH₵65 million.

A major development during the year was the replanting and development of 3,064 hectares of oil palm, valued at GH₵59 million. Of this, 883 hectares have already reached maturity. “The success achieved in executing such smallholder projects under sustainable practices makes your company more attractive to potential investors,” Dr Braimah remarked.

BOPP’s commitment to sustainable operations and corporate governance earned it several accolades, including second-best agribusiness at the 2024 AGI awards and second runner-up for best CSR company. It was also ranked 23rd in the Ghana Club 100 rankings and continues to maintain its RSPO certification, a globally recognised standard for sustainable palm oil.

The company’s emphasis on workplace safety yielded significant results, recording no serious injuries and maintaining a lost time injury rate of 0.65. Dr Braimah attributed this to BOPP’s “strong commitment to safety, health, environment, and quality.”

On the corporate social responsibility front, BOPP invested GHC1.6 million in projects spanning education, health, sanitation, security, infrastructure, and economic empowerment.

However, the Board Chairman expressed concern over the influx of illegal and grey edible oil imports into Ghana. “Government must pay attention to how this negatively impacts local industries, jobs, and government tax revenues,” he urged.

Echoing this sentiment, the company’s General Manager, Mr Samuel Avaala Awonnea, called for decisive government action against illegal imports and illegal mining. “These practices threaten the existence of businesses, jobs, and long-term business sustainability,” he warned.

Mr Awonnea also highlighted BOPP’s drive for environmental sustainability, stating that the company now generates more than 80 per cent of its palm oil mill’s energy requirements using biomass. “We use steam from biomass to drive our steam turbine-driven generators,” he said.

During the meeting, shareholders called for increased investment in information technology and proposed that the company consider expanding its shareholding base to allow more Ghanaians to invest.

The Board pledged its unwavering support to management in pursuing yield improvement strategies and operational efficiency to secure continued growth and value for shareholders.

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Transporting cocoa beans without authority: Four granted GH¢1.3 million bail

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Four people have been put before the Dansoman Circuit Court for allegedly illegally transporting cocoa beans worth more than GH¢1,000, 000.

Kofi Boateng, a driver; Seth Kwabena Baffour, a driver’s assistant; Joseph Yakubu, a driver and Amonsah Paul, a driver’s assistant are said to have concealed the 350 bags of cocoa beans in a cargo truck and loaded plantain on top of them.

They have pleaded not guilty to three counts of transporting cocoa beans from Tepa to Accra without authority at the court presided over by Halimah El-Alawa Abdul-Baasit.

Their pleas were taken on Wednesday [June 4, 2025].
 
Boateng has been admitted to bail in the sum of GH¢500,000 with three sureties one to be justified with two of the sureties being public servants earning not less than GH¢2,000.
 
Baffour has also been admitted to bail in the sum of GH¢650,000 with three sureties one to be justified with two of the sureties being public servants earning not less than GH¢2,000.

Yakubu and Amonsah on the other hand have been admitted to bail in the sum of GH¢100,000 with three sureties with two being public servants. One of the sureties must provide justification.

The accused persons are to deposit their Ghana cards at the court registry.

Prosecution’s facts

Per the facts of the case, the complainant, Patrick Ocansey is a Principal Service Officer of Ghana Cocoabod while Boateng is a driver in charge of cargo truck with registration number GN 8967- 17.

Baffour, is the driver in charge of the cargo truck with registration number AS 4066-21, which was also loaded with 198 bags of cocoa beans. Yakubu and Paul are both driver’s assistants.

On May 30, 2025 at about 8:30 am, the complainant had intel that the above-mentioned trucks which were loaded with cocoa beans were packed at the Dome market.

“Complainant with a team of Police men, proceeded to the scene and arrested the accused persons and brought them to the Accra Central Police station. Investigations revealed that the accused persons loaded the cocoa beans from Tepa in the Brong Ahafo Region to be sent to Ashaiman in Greater Accra.

“Accused persons knowing very well that they cannot transport cocoa beans without the authority of Cocobod, and for the fear of being arrested by the Police, loaded plantain to cover the cocoa beans,” Chief Inspector Christopher Wonder told the court.

He added that when the accused persons got to the Dome market, they offloaded all the plantain, leaving the cocoa beans, hence their arrest.

“During interrogation the accused persons in their caution statements told police that the goods belonged to one Kwame but could not lead police to his arrest.”

He told the court that after investigations, the accused persons were charged with the offences stated on the charge sheet and arraigned before the court.

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Ghana Horticulture Expo 2025: Empowering Youth and Women through Innovation, Agribusiness, and B2B Connections- Africa Skills Hub

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The much-anticipated biggest agribusiness expo in Ghana, Ghana Horticulture Expo 2025 is a transformative agribusiness platform designed to innovate, empower, and sustain youth and women-led businesses across the country.

The Expo scheduled to take place from June 11 to 13, 2025, at the Accra International Conference Center is positioned to serve as a springboard for young entrepreneurs, especially women, who are eager to explore opportunities in Ghana’s horticultural and broader agribusiness sectors.

In an exclusive interview with Agric Today Media, Daniel Amoako Antwi, Executive Director of Africa Skills Hub, a partner to the Expo, shed light on the overarching goals of the Expo. FAGE, under the leadership of Davies Narh Korboe (President) is a huge umbrella of exporters constituting Ghanaian agribusinesses with great skills of industrial players who serve as mentors to the youth and women aimed to venture into the agribusiness.

He mentioned that the Expo is geared towards bridging communication, and the B2B gap, linking the young agribusiness enthusiasts to their respective mentors. “This is to ensure that a lot of youth and women led agribusinesses have been matched with mentors from FAGE to help with guidance and directions”.

Linking the activities of ASH to the Expo, the Executive Director said ASH is an enterprise support organization dedicated to creating economies and skills-based opportunities for Africa’s youth and women. The Expo organized by FAGE in collaboration with the Ghana Export Promotion Authority (GEPA) presents a powerful platform that aligns with this mission, offering the exposure and resources needed for young people and women to thrive.
Assuring Africa Skills Hub’s meaningful contribution to the Expo, he noted that the Hub has initiated a robust programme designed to spark interest in agribusiness among youth, women, and persons with disabilities, fostering inclusive economic empowerment for all.

Mr. Antwi emphasized that the Agribusiness Youth Clinic will not only provide knowledge but also create meaningful links. “We want to ensure that a lot of these youth and women-led businesses are matched with mentors from FAGE (Federation of Associations of Ghanaian Exporters). These mentors will provide both guidance and direction, establishing an apprenticeship-style mentor-mentee relationship that have the potential to endure long after the Expo concludes.”

Mr. Antwi reiterated the objective of the AgriBiz Youth Clinic: to serve as a platform where innovation meets opportunity. It aims to expose young people to immense value within the horticultural value chain, spark entrepreneurial drive, and equip them with the tools and networks they need to succeed.

To Mr. Antwi, one of the key components of the organization is follow-up support that would be ensured after the expo. “We will make sure we follow up with these young entrepreneurs to ensure they are connected to the necessary resources and support systems. This could be in the form of funding opportunities, business development services, or capacity-building programs,” he noted.

The three-day expo is not only about education and mentorship. It is also about mindset transformation. Mr. Antwi said that they seek to inspire a perception change among youth and women, especially those who previously had little or no interest in horticulture and agriculture as a whole.

“We want to see a fair, an expo that provides enormous opportunities, especially for youth and women,” he affirmed. “It’s about seeing women-led businesses and young entrepreneurs not just participate but thrive in the agribusiness landscape.” He said.

“We expect to ensure we have a number of youth and women-led businesses who would have come to the clinic, received consultation, and are thriving,” he stated.

About Africa Skills Hub (ASH)
Africa Skills Hub Foundation (ASH), a Ghana-based enterprise support organization, is making waves across the continent by equipping Africa’s youth and women with the tools they need to thrive in today’s economy. Since 2016, ASH has provided life-changing training in entrepreneurship, agribusiness, digital innovation, and climate-smart practices, while supporting thousands of SMEs and women-led businesses with access to capital and markets.

Beyond skills development, ASH offers comprehensive aftercare services- from financial and legal advisory to market access and IP support. The organization also manages a unique fund focused on green, digital, and agricultural businesses, targeting women and youth-led ventures.

ASH collaborates with multilateral institutions, the private sector, youth agencies, and development partners to deliver high-impact, evidence-based solutions that drive sustainable change. Through innovation, inclusion, and strategic partnerships, Africa Skills Hub is shaping the future of work and enterprise in Africa.

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Cocoa farmers renew push for 70% share of global cocoa price

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Some Ghanaian cocoa farmers are renewing calls for the government to guarantee at least 70% of cocoa’s Free-On-Board (FOB) price as payment to local producers—arguing that anything less continues to undervalue their contribution to the global cocoa supply chain.

The fresh appeal comes on the heels of a promise by President John Dramani Mahama, who, during a Thank You tour in the Ahafo Region on Saturday, announced that a new and significantly improved cocoa producer price will be announced in August 2025.

In an interview with Citi Business News, the President of the Ghana National Cocoa Farmers Association, Stephenson Anane Boateng, said that while the upcoming announcement is welcome, farmers remain cautious.

“Cocoa farmers, we are also Ghanaians, and the work we do also has an impact on the country’s economy. The constitution states it clearly that the FOB price should be considered 70 percent for farmers, so why do successive governments come out with their own projections or proposals?” he said.

Ghana is the world’s second-largest cocoa producer, and the price farmers receive is a critical determinant of rural livelihoods and long-term investment in cocoa farms.

He also urged the government to tread carefully in pursuing large-scale commercial cocoa farming initiatives that lack well-defined long-term strategies. According to him, such ventures risk crowding out smallholder farmers and may not deliver the intended benefits if not properly aligned with the broader goals of the cocoa sector.

“I don’t see the essence of government proposing for commercial cocoa farms. This is because our first leader Dr. Kwame Nkrumah established a lot of factories and State Farms where are they now,” he quizzed.

The previous NPP administration, in November 2024, increased the producer price of cocoa from GH₵48,000 to GH₵49,600 per tonne—translating to a rise in the price per 64kg bag from GH₵3,000 to GH₵3,100.

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Improve Sub-Regional Integration to unlock Agribusiness Financing in Africa – Dr. Otokunor

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The Director of the Presidential Initiative in Agriculture and Agribusiness at the Office of the President of Ghana, Dr. Peter Boamah Otokunor, has called for stronger sub-regional integration as a critical requirement for unlocking Africa’s agricultural potential

Speaking at the EU-Africa Chamber of Commerce’s flagship event on Financing Agribusiness in Africa held at the Parc des Expositions in Abidjan, Côte d’Ivoire, Dr. Otokunor bemoaned the fragmented regulatory environment that continues to inhibit intra-African trade, particularly in the agricultural sector

“Agriculture in Africa cannot thrive without a robust sub-regional integration framework. We speak of Africa as one bloc, yet the reality is that we are divided by borders, bureaucracy, and policies that stifle collaboration,” he stated

He recounted his personal experience of traveling by road from Ghana to Côte d’Ivoire for the event, describing the lengthy delays he encountered at the border.

“I spent over four hours at the border. If a government official has to endure such hurdles, how do we expect our farmers and agribusinesses to trade efficiently across borders, yet we have the African Continental Free Trade Area (AfCFTA), which aims to create a single market for goods and services across the continent,” he revealed

He emphasized the need for policymakers to rethink trade policies and create more enabling environments for agricultural trade

“We must design instruments that facilitate the formation of cooperatives and cross-border partnerships. Without that, we will keep discussing agriculture as potential, never as impact within our beloved continent,” he said

The event witnessed a host of high-profile industry leaders, government officials, CEOs, and development partners. Prominent attendees included Mr. Inza Camara, Consul General of Côte d’Ivoire in New York and Delegate for Economic Promotion in the U.S., Canada, and Mexico; Dr. Fumilayo H. Makanjuola of the International Fund for Agricultural Development (IFAD); Mr. Joseph Nyemah, FAO Representative in Côte d’Ivoire; and Dr. Sidi Ould Tah, President of the Arab Bank for Economic Development in Africa (BADEA), among others

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Ghana could outstrip Côte d’Ivoire’s 50% cocoa processing in 5 years – President Mahama

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The President of the Republic of Ghana, John Dramani Mahama says Ghana is on track to match or surpass Côte d’Ivoire’s benchmark of processing 50 per cent of its cocoa locally within the next four to five years.

President Mahama pointed to Ghana’s progress in domestic cocoa processing while highlighting structural trade obstacles that continue to hinder African economies.

“The world economic order is rigged against Africa,” President Mahama said, adding that although the continent is capable of scaling up value addition, non-tariff barriers make exporting finished products difficult for local businesses.

He said this at a presidential session during the 60th Annual Meeting of the African Development Bank (AfDB) and the 51st Annual Meeting of the African Development Fund (ADF) in Abidjan.

“Unless they bring a processor from outside—from Europe—who comes and sets up a processing plant and gets all the regulatory things in place, an indigenous person setting up a processing plant sometimes has big difficulty in exporting finished products into the EU market and into the American market,” he explained.

Despite these hurdles, the President noted that Ghana has significantly improved its cocoa processing capacity over the years.

“From a low of about 25% processed cocoa, Ghana has risen to about 40%,” he stated.

“Côte d’Ivoire is ahead of us. They have done 50%, which is commendable. We hope that over the next four to five years, we will reach the stage of Côte d’Ivoire at 50% and push even further.”

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Reviving Ghana’s poultry industry: Call to action

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Once a vibrant pillar of national economic development, Ghana’s poultry sector now stands at a crossroads. In the 1960s and 70s,

Ghana proudly met its domestic poultry demand, even exporting processed chicken meat and day-old chicks (DOCs) to neighbouring countries. 

The industry supported tens of thousands of livelihoods and contributed to national food security and GDP growth.
Fast forward to 2025, however, and the picture is disheartening. 

Today, local production meets less than 10% of Ghana’s poultry consumption, with about 400,000 metric tons of chicken imported annually—mostly from the EU, Brazil, and the USA. This massive import dependency not only threatens local agribusinesses but also exposes the nation to serious food security vulnerabilities.

How did we get here?

1. Trade liberalisation without protection

The liberalisation of Ghana’s trade regime in the 1980s and 90s opened the floodgates to subsidised poultry imports from industrialised nations. 

With no safeguards in place, local producers—already battling high production costs—were edged out of their own market.

2. Rising cost of feed and inputs

Feed constitutes about 70% of the cost of poultry production. Local feed prices, driven by high costs of maize and soya, remain uncompetitive. Compounding this are poor input financing systems and lack of forward contracts between farmers and suppliers, making the value chain vulnerable to price shocks.

3. Weak hatchery and breeding systems

Most hatcheries operate far below capacity. Ghana lacks a national breeder program to produce fertilized eggs, relying heavily on expensive imports. 

Local DOCs are often of inconsistent quality, leading to poor flock performance and higher mortality rates.

4. Fragmented value chain and infrastructure gaps

From inadequate abattoirs and cold storage to inefficient logistics, the poultry value chain in Ghana remains underdeveloped. 

The absence of cohesive linkages between producers, processors, marketers, and regulators reduces productivity and limits competitiveness.

5. Policy gaps and poor coordination

Government interventions, though well-intentioned, are often fragmented, inconsistent, and politically motivated. 

There is no long-term, coordinated national strategy for poultry development. Policies are reactive rather than strategic.

6. Fragmented farmer associations: The silent killer of Ghana’s poultry ambitions

One of the most crippling yet under-acknowledged challenges facing Ghana’s poultry sector is the fragmented nature of farmer associations and the near-absence of coordinated value chain collaboration.

This disunity weakens advocacy, limits access to affordable financing, and deprives the sector of the bargaining power needed to influence national policy.

Without strong, united cooperatives or apex bodies, poultry farmers and farmers in general, struggle to secure inputs, access training, enforce quality standards, or pool resources for shared infrastructure like hatcheries and processing plants.

Even more damaging is the unhealthy rivalry, finger-pointing, and isolated efforts that undermine collective progress. 

Rather than pulling together for sector-wide transformation, actors often prioritize short-term individual gains over long-term collective prosperity. This attitude is self-defeating.

Reviving the poultry industry will require more than just money—it demands unity, vision, and the willingness of industry players to sacrifice short-term personal gains for long-term sectoral growth.

Strong associations can lead the charge toward joint investment, self-regulation, and robust policy influence. Ghana’s poultry sector can rise again, but only if its farmers learn to act not just as competitors—but as collaborators in a shared future.

7. Dumping of imports

Exporters from the EU, USA and Brazil benefit from agricultural subsidies and offload surplus by-products, chicken parts—mainly back, thigh, wings, etc—into Ghana at prices well below production cost. This constitutes economic dumping and threatens the survival of local producers.

Can you believe Ghana has started importing frozen Chicken from China?

A new vision for poultry in Ghana

1. Creating a competitive local ecosystem

•    Feed production and input financing: Invest in local feed production, expand soya and maize cultivation, and promote input financing schemes tailored for smallholder producers.
•    Establish a national breeding programme:Develop a viable national breeding farm to supply fertilized eggs to hatcheries, reducing dependence on expensive imports.
•    Strengthen hatcheries and brooding systems: Certify and upgrade hatcheries; train farmers in biosecurity, brooding, and flock management to reduce mortality and improve productivity.
•    Processing and cold chain infrastructure: Support the establishment of certified abattoirs and cold storage facilities through PPPs. Improve packaging, branding, and certification to meet consumer expectations.
•    Skills development and innovation: Build national training programs in poultry management, veterinary services, and agribusiness. Integrate ICT tools for farm management, disease surveillance, and market linkage.

2. Adopting a strategic managed trade policy

•    Import controls and tariff adjustments: Implement phased restrictions on imports while supporting local capacity development. Introduce tariffs where necessary to discourage dumping.
•    Enforce quality standards: Strengthen food safety, traceability, and labeling laws for imported poultry.
•    Public Procurement for Local Chicken: Mandate public institutions—schools, prisons, hospitals, and military— to procure only locally produced poultry products.
•    Establish a poultry sector coordination council: Bring together stakeholders from government, industry, academia, and donor agencies to develop a long-term poultry sector master plan.

3. Financing the poultry transformation

•    Blended Finance Mechanisms: Utilise partial risk guarantees, concessional loans, and matching grants to crowd-in private investment into poultry production and processing.
•    De-Risking Investment: Partner with banks, rural financial institutions, and development finance institutions (DFIs) to offer tailored financial products for poultry value chain actors.

4. Branding, marketing, and consumer awareness

•    “Eat Ghana Chicken” campaign: Launch a nationwide branding and awareness campaign that promotes locally raised chicken based on taste, nutrition, and job creation.
•    Modern market access: Support producer cooperatives and SMEs to access modern retail channels and institutional markets.

5. Empowering women and youth

•    Entrepreneurship support: Design specific support programs for youth and women in poultry agribusiness—covering feed production, hatcheries, vet services, processing, and distribution.
•    Access to land and finance: Work with local authorities and financial institutions to ensure equitable access to land, capital, and inputs for youth and women entrepreneurs.

Call to Action

Ghana’s poultry sector does not need more short-term political promises or piecemeal interventions. It needs bold, consistent, and coordinated action. With more than 76% of Ghanaians expressing a preference for local chicken, the market opportunity is evident.

It is time for the government, private sector, development partners, and financial institutions to rally behind a national poultry development agenda. By reducing import dependency, boosting local production, and creating sustainable jobs, Ghana can reclaim its rightful place as a poultry powerhouse in the sub-region.

Conclusion

The decline of Ghana’s poultry sector is not irreversible. Through bold leadership, strategic investments, and fair-trade policy, we can transform the sector into a vibrant engine of economic growth, youth employment, and food sovereignty.

Let us feed Ghana with Ghanaian chicken—nutritious, proudly local, and economically empowering.

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Cocobod lost $840 million because of rollover – Cocobod CEO.

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The Chief Executive Officer of the Ghana Cocoa Board, Randy Abbey has revealed how syndicated loan delays and poor financial planning plunged Ghana’s cocoa sector into a historic crisis, resulting in an estimated loss of $840 million.

Speaking on Hot Issues with Keminni Amanor, as monitored by MyNewsGH, Abbey explained that COCOBOD’s financial missteps during the 2023/2024 season not only weakened the industry’s performance but also severely undercut the earnings of cocoa farmers across the country.

According to Abbey, COCOBOD entered the 2023/2024 cocoa season by seeking a syndicated loan using a conservative pricing benchmark of $2,600 per ton, despite ongoing market volatility and liquidity challeneges.

However, the real crisis emerged when the funds arrived in December 2023—three months after the official opening of the cocoa season.

“Licensed Buying Companies couldn’t get seed funds to buy cocoa for almost four months. This has never happened in COCOBOD’s history,’’ Abbey stated with alarm.

The delay in financing had a cascading effect. COCOBOD, having already committed to deliver over 333,000 tons of cocoa, was unable to fulfill those contracts, leading to a rollover into the 2024/2025 season.

As global cocoa prices soared to $6,600 per ton, Ghana found itself servicing prior contracts at a $4,000 loss per ton.

“For every ton we used to service the rollover, we lost $4,000. As of April 2025, we had serviced 210,000 tons. That’s a loss of $840 million,” Abbey disclosed.

This massive shortfall, he explained, is a key reason the government could not significantly increase the cocoa producer price, despite mounting political and economic pressure.

“They increased it to GH€3,100 just three weeks before the election, but that’s less than 50% of the world price,” he added.

The situation remains precarious. Abbey warned that Ghana is still rolling over another 120,000 tons into the 2025/2026 season, and while the president has expressed a desire to improve farmer incomes, broader economic instability—particularly the recent challenges facing the cedi—complicates any effort to adjust prices upward.

“This is not just about mismanagement,” Abbey said. “It’s about the collapse of confidence in the institutions that are supposed to protect our farmers and our Economy.”

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Ghana Calls for Stronger Atlantic Cooperation on Maritime Governance

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The Honourable Emelia Arthur, Ghana’s Minister for Fisheries and Aquaculture, delivered a compelling address this week at the High-Level Forum of Atlantic African Nations, calling for a united approach to maritime governance, scientific collaboration, and sustainable development across the Atlantic seaboard.

Speaking to an esteemed gathering of ministers, experts, and stakeholders, Minister Arthur expressed her deep gratitude to His Majesty King Mohammed VI of Morocco for hosting the forum and commended Morocco’s leadership in fostering regional cooperation.

“Our Atlantic domain presents both immense opportunities and tremendous challenges,” Minister Arthur stated.

“We must work together, across borders and sectors, to turn our shared waters into engines of sustainable development, security, and prosperity”, she added.

She underscored the importance of collaborative maritime governance, highlighting how oceans and seas support trade, fisheries, tourism, and untapped marine resources, while warning of threats such as illegal fishing, pollution, and weak institutional frameworks.

“Without better shared-knowledge-based governance,” she cautioned, “we will struggle to make the Atlantic a true driver of growth and resilience.”

Key themes from her speech included:

Strengthening institutional capacity to enforce maritime laws Combating illegal, unreported, and unregulated (IUU) fishing

Enhancing marine science and data-sharing across nations Investing in ocean observation technologies and research Building sustainable blue economy initiatives that benefit local communities

Minister Arthur emphasized that building marine knowledge is vital to informed decision-making, urging greater investment in scientific research and regional data-sharing platforms.

“Understanding the ocean is the foundation of protecting it,” she said, adding that training, technology, and local community engagement are critical to achieving this goal.

In her closing remarks, she issued a strong call to action: Prioritise maritime governance at the highest political levels Invest in scientific infrastructure and innovation Strengthen partnerships and harmonize regional policies Build local and national capacity for long-term resilience.

“Together, we can unlock the Atlantic’s full potential—not just for our nations, but for the benefit of humanity,” Minister Arthur concluded. “Let us be the generation that preserves its richness for those who come after us.”

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