24-Hour Economy vision tied to cocoa value addition – Jane Naana

Ghana’s Vice President, Jane Opoku-Agyemang, has underscored that the government’s 24-hour economy vision is closely linked to efforts to enhance value addition in the cocoa industry.

She made the remarks at the Global Gateway Forum in Brussels, where she called for a fairer and more sustainable global cocoa trade that prioritizes the welfare of farmers and local processors.

Speaking during the Sustainable Cocoa Initiative Scale-up Session, the Vice President traced Ghana’s cocoa legacy from Tetteh Quarshie’s first cocoa beans to today’s industry that supports more than 800,000 farmers. She noted that the country’s long-term development strategy rests on empowering farmers, improving processing capacity, and ensuring continuous productivity, which align with the government’s push toward a 24-hour economy.

According to her, true sustainability must be rooted in fairness, where farmers and local producers receive equitable returns for their contribution to the global chocolate and confectionery market. She pointed out that despite cocoa’s central role in Ghana’s economy, many small processors face financial and operational barriers that prevent them from expanding production or operating continuously.

“Investments often concentrate in multinational or state-owned facilities, leaving local processors struggling with high borrowing costs,” she explained.

To tackle this, the Vice President proposed structured blended financing models that combine capital investment with affordable working capital, risk-sharing mechanisms, and technical assistance — especially for small and rural processors. She added that partnerships such as the EU Sustainable Cocoa Initiative and the Global Gateway Framework offer vital platforms to achieve this balance.

Opoku-Agyemang further highlighted Ghana’s resilience amid global cocoa price fluctuations and pledged the government’s commitment to expanding commercial plantations and improving pest and disease control systems. She noted that these initiatives will help maintain quality and support a continuous production cycle consistent with the 24-hour economy model.

Reaffirming confidence in Ghana’s cocoa governance, she said, “Our grading and quality control remain among the most rigorous in the world, and ongoing reforms at COCOBOD are aimed at promoting fairness and investor confidence.”

The Vice President concluded by stressing that Ghana’s cocoa industry must evolve from raw exports to value-added processing that generates decent jobs and strengthens economic resilience.

“We must build an economy that empowers farmers, creates sustainable employment, and adds value at every stage of production,” she stated, emphasizing that a vibrant cocoa sector is central to realizing Ghana’s 24-hour economy vision.