Cadbury, the world's leading confectionery company, has reiterated its commitment to supporting Ghana's cocoa industry with £30 million over the next 10 years.

The investment package will target cocoa farming communities with the aim of improving their incomes.

The Chief Executive of Cadbury Ghana Limited, James Boateng told CITY&BUSINESS GUIDE in an exclusive interview in Accra that “disbursement of the first tranche of funds which is expected to help improve farmer livelihoods would commence this year”.

Last year Cadbury conducted a research through the Institute of Development Studies, Sussex, and the University of Ghana, Legon, into sustainable cocoa production in Ghana, which showed that the average cocoa farm productivity is currently at 40 percent of potential yield.

This makes cocoa farming less attractive to potential generation of farmers thereby putting the future of the industry in danger.

With the high global demand for quality cocoa, Cadbury therefore wants to ensure the sustainability of good quality cocoa supplies.

The giant confectionary company is therefore collaborating with the UNDP, COCOBOD, other NGOs and agencies such as VSO, ActionAid, World Vision International, farmer groups and government to drive the agenda through the 'Cadbury Cocoa Partnership' programme. Other countries which would benefit are India and the Caribbean.

The CEO of Cadbury Ghana said the programme will improve farmer incomes and develop rural communities through higher cocoa productivity and engagement in non-cocoa rural enterprises to ensure alternate income streams. Such ventures would be supported through microfinance.

There would also be rural infrastructure development in education and health through provision of school buildings, libraries and potable water wells. All these would be done in close collaboration with farming communities.

According to the International Cocoa Organisation (ICO), African countries now provide about 70 percent of the world's cocoa with Cote D'Ivoire and Ghana accounting for 65 percent of global net exports.

Most African cocoa is sold to Europe and North America, with the Netherlands and the US being the world's two leading cocoa processing countries, ICO added.

Meanwhile, a statement issued by Press Secretary to the President, Andrew Awuni in Accra yesterday said the £30 million is expected to increase farmer productivity by 20 percent in the first five years, rising to 100 percent by the tenth year.

“The investment will initially focus on 100 farming communities, with a target of 80,000 people,” the statement said, adding that this was contained in a communiqué issued at the just-ended “Business Call To Action” forum in London.

Stories by Felix Dela Klutse Source: Daily Guide - Daily Guide