COCOBOD CEO: Living income differential is government’s greatest legacy in cocoa sector

Joseph Boahen Aidoo, chief executive of Ghana Cocoa Board (COCOBOD), has stated the living income differential (LID) is government’s greatest achievement in the cocoa sector.

The living income differential is the additional sum paid per each tonne of cocoa to farmers.

Speaking on Sunday Night with Nana Yaa Mensah, Aidoo said the initiative is generating about $320 million annually for Ghana.

“With the LID, it comes as an additional payment to the farmer and now that Ghana is producing around 800,000 metric tonnes of cocoa, what that translates into is that the country is earning around $320 million additional income, and it is not coming from any bank,” the COCOBOD boss said.

Aidoo added: “It is a legacy the Nana Akufo-Addo government is leaving for this country, and that is why I say it is the greatest, of course we have had other initiatives like pruning and hand pollination etc.”

The COCOBOD boss said moves are underway to digitise the sector to make it easier and more convenient for stakeholders in the sector.

“The Time will come when we will have a cash lite payment system, farmers will no more use cash, the farmers will just be using their cards just as we have E-zwich, and with that we can also send our farmers credit for fertilizers based on their farmer card,” he predicted.

“So that cash system is going to remove all the challenges and difficulties associated with carrying huge sums of money in the cocoa areas, especially by cocoa district officers and purchasing clerks.”

Fred Dzakpata

Gh Extractives

Ghextractives.com is an independent multimedia portal that seeks to provide credible information and news content to readers especially players in the extractive sector in Ghana, Africa and beyond. It also provides a unique platform for players in the energy sector to market their products and reach a wider audience

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