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COCOBOD, African Development Bank celebrate disbursement of loan to boost cocoa productivity
Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer.
The occasion was marked by a ceremony held in Accra, Ghana on Tuesday, June 23, 2020 was followed online by hundreds of observers across the globe.
In attendance were COCOBOD and government representatives and participating lenders, which included development finance institutions: the African Development Bank, the Japan International Cooperation Agency (JICA), the Development Bank of Southern Africa, among others.
The $600 million syndicated loan agreement was signed in November last year at the Africa Investment Forum in Johannesburg, South Africa.
JICA and the African Development Bank agreed to provide $3.5 billion in joint financing under the fourth phase of the Enhanced Private Sector Assistance for Africa Initiative.
Joseph Boahen Aidoo, Chief Executive Officer of COCOBOD, highlighted the challenges of production, processing and distribution of cocoa in the country but noted that efforts were being made to address them.
“By strengthening the cocoa bean-centric agricultural value chain and related industries, the facility will help COCOBOD to contribute to achieving Sustainable Development Goals,” he said.
According to officials, COCOBOD would use the facility to raise cocoa yields per hectare and increase Ghana’s overall production.
Activities under the facility would include the allocation of financing to sustainably increase cocoa plant fertility, improve irrigation systems, and rehabilitate aged and disease-infected farms.
The funds would help increase warehouse capacity and provide support to local cocoa-processing companies also.
Dr Jennifer Blanke, African Development Bank Vice President for Agriculture, Human and Social Development, said “loan to COCOBOD aims to improve the quantity and quality of local processing, boosting incomes of local farmers and their communities and generating new and better jobs.”
Yasumichi Araki, Chief Representative of JICA Ghana, said “JICA will continue to commit to the cocoa industry in Ghana through innovative interventions to COCOBOD.”
The Development Bank of Southern Africa is also partnering with COCOBOD to further enhance Ghana’s position as one of the leading producers of quality cocoa in the world.
-News Desk
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National Cathedral: We can’t halt salary payments because project is on hold – Dr. Joyce Aryee
Dr. Joyce Aryee, a member of the National Cathedral’s board of trustees, has dismissed concerns about staff payments, including those of CEO Dr Paul Opoku-Mensah, during the construction halt as “ridiculous.”
Her response follows growing concerns over the project’s stalled progress and its impact on staff salaries.
Speaking on the sidelines of a symposium organized in collaboration with TD Jakes’ divinity school on Monday, October 14, Dr Aryee said, “If a project is on hold, it doesn’t mean that people are not working to keep it going. I’m surprised, I don’t even want to comment on it, as ridiculous as this. No, I won’t comment.
She further challenged the logic behind the concerns, adding, “So you establish an organisation, the organisation should stop because you don’t have money to continue a certain aspect of the organisation. Is that it? Answer it yourself.”
Meanwhile, Dr. Paul Opoku-Mensah, Executive Director of the National Cathedral, has sought to clarify misconceptions surrounding the project, emphasizing that it goes beyond being just a church building.
He highlighted the potential benefits the cathedral could bring, including revenue generation and showcasing Ghana’s rich cultural heritage to the world.
The National Cathedral project has faced strong opposition, with critics questioning the appropriateness of government involvement and raising concerns about a lack of financial transparency.
However, Dr. Opoku-Mensah remains optimistic, particularly following a symposium held in collaboration with TD Jakes’ divinity school. The event aimed to educate the public about the broader functions of the cathedral.
Envisioned as a historic landmark, the cathedral is intended to serve as a sacred space for religious activities. Additionally, it will feature Africa’s first Museum of the Bible, a collaboration with the Museum of the Bible in Washington, D.C.
“The symposium is just conceived as the National Cathedral’s response to what in Ghana we perceive to be the return initiatives and offer a pathway mediated by faith to connecting Ghana to the African diaspora,” she said.
This collaboration will seek to develop a Pan-African community to collectively work to address historical, racial and contemporary of Africa’s contributions to theology practice.
She said, “We seek to demonstrate the conveying functions of the National Cathedral, the National Cathedral project is often misunderstood, conceived almost entirely as a physical church building. The National Cathedral is more than a church and it includes critical national, continental and global conversations.”He congratulated TD Jakes’ divinity school for taking students across the African continent.
Source: Citinewsroom.com
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NPP-NDC clash at Mamobi: One person arrested
One person has been arrested in Connection with the clash involving members of the New Patriotic Party(NPP) and National Democratic Congress (NDC) at Mamobi in Accra on Sunday.
“The Ghana Police Service wishes to assure the general public that investigation into the disturbances that occurred between supporters of the New Patriotic Party (NPP) and the National Democratic Congress (NDC) at Mamobi in Accra, yesterday, Sunday 13th October 2024, is still ongoing,” the police revealed in a statement today.
They concluded, “So far, one person has been arrested in connection with the incident and the Police are working around the clock to get all identified perpetrators arrested to face justice.”
