The Minister of Agriculture, Hon. Eric Opoku has emphasized the immense potential of Ghana’s cocoa industry to drive significant economic growth. Speaking on the subject, Hon. Opoku highlighted the need for the country to prioritize cocoa production and export as a means of generating substantial revenue to reduce dependence on external financial assistance.
“Cocoa alone brings us $2 billion every year,” Hon. Opoku stated. “When we went to the International Monetary Fund (IMF) for support, we sought $3 billion over three years. However, if we focus on harnessing the full potential of our cocoa industry, we could generate more than $6 billion in three years—double what we’re borrowing from the IMF.”
The minister underscored that cocoa has been a cornerstone of Ghana’s economy for decades, and with strategic investments in the sector, the country can significantly increase revenue. He called for greater attention to improving cocoa yields, enhancing processing capabilities, and expanding access to international markets.
“To achieve this, we need to invest in modern farming techniques, provide adequate support for our farmers, and ensure that we are adding value to our cocoa before exporting. By doing this, we can command better prices and create more jobs locally,” Hon. Opoku explained.
He further urged policymakers and stakeholders to view the cocoa sector as a sustainable alternative to external loans, stressing that the long-term benefits of such an approach far outweigh the temporary relief provided by borrowing.
“If we channel the same energy we put into securing loans into developing our cocoa industry, we will not only boost our economy but also strengthen our financial independence. Cocoa is a resource we already have in abundance—it’s time we fully leverage it for national development,” he added.
Hon. Opoku’s remarks come at a time when Ghana is seeking innovative ways to address its economic challenges. His call to action resonates with the growing need for self-reliance and the strategic utilization of the country’s natural resources to build a more resilient economy.
Story by: Mercy Addai Turkson #ahotoronline.com
