Business News of Wednesday, 6 November 2024
Source: Joy Business
Kwame Mensah, a cocoa farmer in Ghana, symbolizes the struggle of many farmers who produce high-quality cocoa yet live in poverty. Despite Ghana’s position as a leading cocoa supplier, over a third of cocoa farmers earn below the poverty line.
Ghana’s outdated Ghana Cocoa Board (COCOBOD), established in 1947, hinders farmers’ income growth and excludes them from decision-making. Climate change, low yields, and illegal mining worsen their plight, and COCOBOD’s climate response has been minimal.
Reform advocates suggest inclusive decision-making, modern business practices, and climate resilience measures to empower farmers and enhance Ghana’s cocoa industry amid global shifts toward ethical sourcing.