Former Finance Minister under erstwhile Kufuor administration, Yaw Osafo Marfo has proposed for an overhaul of the cocoa sector by allowing Licensed Buying Companies to export their products without going through the Ghana Cocoa Board.
He says deregulation of the cocoa sector in Ghana must be the new direction.
According to him, as the case has been in Cote d’Ivoire, if the private sector is allowed to maximize the opportunities in the external marketing of cocoa, Ghana’s cocoa sector will see tremendous growth.
“The problem with the cocoa sector is that the deregulation of the Ghana cocoa sector is incomplete, I tried to complete it but I didn’t succeed.
“When it comes to the external marketing of cocoa, Ghana has refused to deregulate it, La Cote d’Ivoire is deregulated. It means that you being a local buying company, you’ll be up to the level of you exporting. So you take a risk to benefit when the world market prices fluctuate.”
He was speaking at the 2015 Ayisi and Associates Corporate Leadership Program.
By: kasapafmonline.com/Ghana
