COCOBOD opens Shea office as government plans to set up board by 2024

GHANA - The government cocoa regulatory agency, Ghana Cocoa Board (COCOBOD) has opened a Shea Unit Office in Tamale to serve as an operational secretariat to develop the industry through supply chain in the region. Meanwhile, the government is planning to set up a Shea Development Board by 2024 in a bid to transition the…

COCOBOD to pump US$600m into cocoa sector to revive the industry

GHANA - The Ghana Cocoa Board (COCOBOD) will invest US$600 million into the cocoa sector in a way to revive the industry in the country, GNA reports. Making the announcement, Mr Joseph Boahen Aidoo, the Chief Executive of COCOBOD said the board had almost finished negotiations to secure the credit facility from the African Development…

COCOBOD to introduce organic fertilizer on cocoa farms

GHANA - The Ghana Cocoa Board (COCOBOD) has unveiled plans to introduce use of organic fertilizer on cocoa farms in another strategy to increase yields and cocoa production in the country. The fertilizers will help in enriching the soil as opposed to use of chemicals and weedicides that has affected the soil fertility and yields…

Unilever Tea announces voluntary early retirement at its Kericho tea plantations

KENYA - Unilever Tea Kenya (UTK), a subsidiary of the British consumer goods giant Unilever Plc has announced a Voluntary Early Retirement scheme to cut on the number of staff at the Kericho-based tea plantations, Business Daily has reported. Unilever East Africa Corporate Affairs Director, Joseph Sunday the planned reorganisation was part of routine business…

Indian tea major Goodricke to increase packet tea portfolio and private sales

INDIA - Goodricke Group, West Bengal based tea company has said it will be increasing the capacity of its packet tea business from 8.8 million kg to 12 million kg by next year. It also plans to focus more on private sales and send less produce to auction in order to fetch better prices for…

Parliament approves COCOBOD’s US$1.3bn trade finance for cocoa

GHANA - A US$1.3 billion trade finance facility between Ghana Cocoa Board (COCOBOD) and a consortium of banks and financial institutions for the purchase of cocoa for the 2018/2019 crop season has been approved by the parliament. The facility holds the government of Ghana as the guarantor and was granted on merit that cocoa industry…

Kenya loses UK horticulture market share on ‘incompetent’ standards

KENYA - A study by the Overseas Development Institute (ODI) has revealed that Kenya lost on all of its top three exports to the United Kingdom that is tea, cut roses and beans. According to the report, exports to the UK from the rest of the world have risen by 15% in eight years to…

Colombia pledges to eliminate deforestation from cocoa supply chain by 2020

COLOMBIA - The government of Colombia, along with cocoa companies Casa Luker and Compañía Nacional de Chocolates, has pledged to eliminate deforestation from the country’s cocoa supply chain by 2020. According to FoodBev, Colombia has joined the Cocoa and Forests Initiative, a global effort to ensure deforestation-free cocoa. The governments of Ghana and Côte d’Ivoire were…

Kenya’s premium tea brand Kericho Gold secures US$4m IFC financing

KENYA - Kericho Gold, a premium tea brand owned by Gold Crown Beverages, a subsidiary of Global Tea & Commodities Ltd has received US$4 million funding in loan from IFC meant to fund its expansion strategy in Kenya and Malawi, reported the Exchange. A statement from IFC said that Global Tea & Commodities Ltd, a…

Nestle to reward US$1.08m to cocoa farmers under the Nestlé Cocoa Plan (NCP)

GHANA - Nestle Ghana Ltd will reward US$1.08 million to over 17,615 farmers under the Nestlé Cocoa Plan (NCP) as the company looks to doing business profitably while ensuring sustainable development in the community they operate. The increased premium payment is geared at motivating farmers for quality cocoa production, meet production standards, increase local sourcing…