Accra, Ghana//-Community Focus Foundation Ghana (CFF-Ghana) has added its voice to the raging debate on Ghana’s Cocoa sector reforms and to state its candid position.
In a recent press conference addressed by Ghana’s Finance Minister, Dr Cassiel Ato Forson, comprehensive reforms, including a price cut (reduction from Ghc3,625 to Ghc2, 587 per bag), automatic price adjustment with 70% Free On Board (FOB) price Guarantee aimed at protecting farmers from global price fluctuations.
Additionally, a new financial model in which domestic cocoa bonds, the minister said, would replace syndicated loans, a local processing boost with 50% of raw beans to be processed locally, among other reforms, were announced to restore confidence, promote value addition and ensure long-term sustainability.
Presenting their position on this subject, the Executive Director of CFF-Ghana, Richard Kasu, was confident that these sweeping reforms were met with fierce opposition from a section of Ghanaians, especially the largest opposition party, the NPP.
Key concerns being raised include unfair price cuts, unpaid farmers’ arrears, and lack of transparency in handling cocoa sector finances, he added.
“While acknowledging concerns of sector players, including farmers among others as valid, we, however, consider the comprehensive reforms to have come at the right time, taking into account the long-term benefits it promises”, Mr Kasu said.
The CFF-Ghana strongly believes in meaningful dialogue for consensus building, and as such, we call on the government and Cocobod to take collective actions by engaging cocoa sector players and explaining the reforms and the long-term impact with a view to bringing a final resolution to the impasse.
“In our collective quest to address the myriad of challenges in the cocoa sector, we urge relevant stakeholders, including investors, cocoa farmers, and produce buying companies, among other relevant stakeholders, to exercise restraint and work collaboratively with the government to strengthen the cocoa sector for shared growth”.
The NGO therefore called on the government to, as a matter of urgency, come out with a clear implementation roadmap of the announced reforms, prioritising timelines to secure public support.
