A policy and advocacy think tank, Tsa-Ke-Mo is calling for stronger public policies to encourage value-addition to cocoa produced in Ghana and Cote D’Ivoire.
The group which is geared at promoting value addition and youth job creation from natural and agricultural resources said it is rather disappointing that Africa which produces 75% of the world’s cocoa only enjoys 2% of the world’s $100billion chocolate industry.
According to them, though there have been some indications by governments to address the huge disparity identified, not much has been realized due to a lack of strong policies and commitments.
An implementation of these policies they say will generate jobs and employment for Africa’s energetic youth population.
The Tsa-Ke-Mo, therefore, suggested some actionable policies to catalyse the growth of the cocoa value addition industry in Ghana and Cote D’Ivoire.
In a press statement to mark this year’s National Chocolate Week, Tsa-ke-mo called for 60% of cocoa produced in Ghana and Cote D’Ivoire to be retained and value added.
They stated that the 60% should be made more easily accessible to processing industries at affordable prices to ensure maximum participation of the country’s private sector.
They also called for the creation of a national fund for cocoa value addition capacity building and financing for the youth of the respective countries using at least 20% of cocoa export revenue.
They further stated that to serve as an incentive for private organisations and individuals to join the drive towards higher value addition for cocoa, new cocoa processing companies should be exempted from paying taxes in the first five years, whereas old cocoa processing companies should have their taxes reduced.
Tsa-ke-mo urged the governments of Ghana and Cote D’Ivoire to put in place a free import duty regime for industrial machines and equipment for industries involved in cocoa processing or chocolate manufacturing.
Finally, increase funding for cocoa research and product development in the respective countries will go a long way to help.
The group is optimistic that, these initiatives will increase employment opportunities, contribute to a more sustainable economy, and grant the governments some bargaining power over finished products which will then generate greater revenue for the countries.
Latest Stories
-
De Zerbi to leave Brighton after Man United clash
18 mins -
First Dep BoG Governor Dr Maxwell Opoku-Afari speaks on Ghana’s economic evolution and digital future
23 mins -
Sean Combs is shown assaulting former girlfriend Cassie in 2016 surveillance video
31 mins -
Cedi depreciation: We have complained a lot but is anybody listening? – Dr Otoo
1 hour -
Rev. Dr Lawrence Tetteh to march to Jubilee House over anti-gay bill delay
1 hour -
Throwing cash in the air – Nigeria’s wedding dilemma
1 hour -
I’ve lost a friend and a strong supporter – Bawumia eulogises John Kumah
2 hours -
I am the most expensive artiste in terms of production – Scott Evans claims
2 hours -
My time will come but it is not this year – Scott Evans on TGMA
2 hours -
NDC launches fundraiser campaign in Volta Region
2 hours -
Why call for Kissi Agyebeng’s removal when there are alternatives? – Dr Osae-Kwapong to Amidu
2 hours -
Former Deputy AG Joseph Kpemka appointed Deputy MD for BOST
3 hours -
Celebration of debts with Kenkey parties brought our economy to this low level – Suhuyini
3 hours -
Amidu’s petition strengthening Akufo-Addo’s desire to remove independent officeholders – Suhuyini
4 hours -
I was so proud when Afronita and Abigail danced to ‘Antenna’ at Britain’s Got Talent – Fuse ODG
4 hours