Mahama Reiterates Government’s Commitment to Local Cocoa Processing

Abidjan: President John Dramani Mahama has reiterated the Government's commitment to ensuring that 50 percent of Ghana's cocoa beans are processed locally to enhance their value and profitability for the export market. He highlighted the progress made from processing about 25 percent to 40 percent of the cocoa locally and expressed optimism for further improvement.According to Ghana News Agency, President Mahama spoke during a panel discussion at the 60th Annual General Meeting of the Africa Development Bank Group in Abidjan, Ivory Coast. He acknowledged that Cote d'Ivoire is leading with 50 percent of its cocoa processed domestically and expressed hopes for Ghana to achieve and surpass this benchmark within the next four to five years.President Mahama also addressed the shift in global trade dynamics since the Second World War, where multilateral, rules-based trading systems have been replaced by more transactional approaches. This shift signals the need for Africa to strengthen local revenue mobilizatio n and add value to its natural resources. With support from the African Development Bank, Mahama emphasized the importance of internal trade and investment in trade infrastructure across the continent.He noted the significance of the African Continental Free Trade Area (AFCFTA) protocol, which many African nations have ratified, enabling intra-continental trade. However, Mahama stressed the necessity of developing infrastructure such as railways, highways, and aviation connections to facilitate the exchange of goods.Ghana has already made strides in this direction by expanding its port facilities to accommodate large ships and redistribute goods to other African countries. Mahama expressed concerns about non-tariff barriers that hinder African countries from exporting processed products to certain international markets unless foreign processors establish local plants.In conclusion, President Mahama affirmed Ghana's dedication to enhancing local cocoa processing and trade with fellow African countries, d espite challenges posed by the global economic order.