Alan Kyerematen, the presidential candidate for Movement for Change, has promised to transform the cocoa sector, particularly focusing on the Ahafo Region, where livelihoods are heavily tied to cocoa farming.
Speaking to a crowd of chiefs, community members, and cocoa farmers during his Caravan Campaign Tour, Kyerematen openly criticized both the current New Patriotic Party (NPP) government and the opposition National Democratic Congress (NDC) for what he described as a historical failure to adequately support and compensate cocoa farmers.
He pledged a new approach that would prioritize local financing, fair earnings, and value addition in cocoa production.
“The current system forces the government to borrow about $2 billion annually under the guise of helping cocoa farmers, yet pays them in cedis.
“This discrepancy shortchanges farmers as our currency loses value, causing their earnings to be used to service growing debts.”
Alan Kyerematen, Presidential candidate for Movement for Change
As an alternative, Kyerematen announced an innovative shift: a proposal to finance cocoa purchases locally, using cedi-denominated loans rather than foreign currencies. By borrowing locally, he explained, the government would avoid the costly exchange-rate losses that accompany dollar-denominated loans.
Kyerematen told the audience. “No more will our farmers’ hard work serve only to pay off foreign loans.”
Kyerematen pointed out that global cocoa prices currently stand at an all-time high of $7,960 per ton, a price he argued should translate into improved incomes for Ghanaian farmers.
He criticized the government’s failure to pass these profits on to the farmers, calling it “unforgivable” that despite soaring prices, farmers continue to face financial hardship.
According to Kyerematen, his administration would ensure that farmers receive a fair share of the proceeds from the high global cocoa prices by addressing inefficiencies in the distribution chain and advocating for a new pricing model.
His strategy includes adding value to Ghana’s cocoa by promoting local processing. Under his Great Transformational Plan, Kyerematen pledged that at least 70% of Ghana’s cocoa would be processed domestically.
“If we export finished products, our farmers will finally see the prosperity they deserve,” he said, underscoring that Ghana’s position as the world’s second-largest cocoa producer should be leveraged for national economic gains.
Addressing Barriers to Increased Production
Central to Kyerematen’s economic vision is his Great Transformational Plan (GTP), which aims to fundamentally overhaul how Ghana’s cocoa sector operates.
Another major aspect of Kyerematen’s proposal is addressing barriers to increased production, particularly the high costs associated with cocoa pollination. Pollination is a labor-intensive but essential process for ensuring high crop yields.
Currently, many farmers struggle with pollination costs, which reduces their productivity and income. To support farmers, Kyerematen promised to make pollination services free, a move he believes will boost cocoa yields and enhance farmers’ livelihoods.
“Our cocoa farmers deserve access to free pollination services to boost their yield,” he announced, garnering applause from the audience.
Beyond addressing immediate financial challenges, Kyerematen also presented a plan to foster greater farmer ownership within the cocoa industry.
“It’s time for our farmers to have ownership in the industry they sustain,” he declared, stressing that the plan would empower farmers by giving them a stake in the industry that has been the backbone of Ghana’s economy for decades.
He proposed a scheme to deepen private sector participation by offloading shares of COCOBOD, the nation’s cocoa regulatory body, on the Ghana Stock Exchange.
Kyerematen called for unity and collective support for his vision, urging Ghanaians to back policies that would bring about a new era of prosperity for cocoa farmers.
He underscored the potential for his Great Transformational Plan to reshape not only the cocoa sector but also the broader economic landscape in Ghana. “This is about giving our cocoa farmers the prosperity they deserve,”
For the cocoa farmers who have long labored under a challenging system, Kyerematen’s vision offers a glimmer of hope for meaningful change.
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