'New Pension Scheme for Cocoa Farmers Underway' - Vice President Mahamudu Bawumiah confirms
He also directed the Ghana Cocoa Board (COCOBOD) to acquire fertilizers from local companies from next year due to the existence of sufficient local capacity for the manufacturing of composts.
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Dr. Mahamudu Bawumia has revealed that government in collaboration with the National Pension Regulatory Authority (NPRA) is introducing a pension scheme for cocoa farmers.
He disclosed on his facebook page that works on the scheme has far advanced and government expect another round of presentations at the Economic Management Team by the NPRA before submitting it to Cabinet for approval.
“President Nana Addo Dankwa Akufo-Addo's government will not relent in its efforts at supporting Ghana Cocoa Board to ensure the sustainability of the cocoa industry,” he wrote.
The Vice President of the Republic of Ghana has also directed the Ghana Cocoa Board (COCOBOD) to acquire fertilizers from local companies from next year due to the existence of sufficient local capacity for the manufacturing of composts.
He disclosed the directive on Wednesday, September 25, 2019 at the 20th Anniversary Celebration of Olam Cocoa Ghana, a leading global agro- commodity company deeply involved in cocoa industry from the internal marketing of cocoa to external marketing, and then to downstream processing. The program was chaired by the Okyenhene, Osagyefo Amoatia Ofori Panin in Accra.
“Government has directed COCOBOD to make sure that from next year, because there now exists sufficient local capacity for the manufacturing of fertilizer, at least the blending of fertilizer, government has instructed COCOBOD that starting next year all fertilizer they acquire must be from the local companies and not imported. Because now, thanks to 1D1F we have established the local capacity to satisfy our fertilizer demand, and this will save the country foreign exchange,” he revealed.
He reviewed the wonderful effort of Olam Ghana towards national development and appreciated their works for the 20 years of remarkable growth and achievements.
“Government is aware of the many achievements of Olam Ghana, parent company of Olam Cocoa, in the agro-commodity sector of the economy. The company has gradually become one of the leading agro-commodity companies in the country. Your involvement in the export of cashew, and your tomato paste processing and canning has not escaped the eye of Government"
“I wish to take this opportunity, on behalf of the Government, to congratulate Olam Cocoa Ghana for twenty years of remarkable growth and achievements. Your achievements and continuous investment in the country is a demonstration of the confidence that your Company has in our resilient economy. We are delighted to note that Olam Cocoa Ghana is deeply involved in our cocoa industry from the internal marketing of cocoa to external marketing, and then to downstream processing.”
