The Chinese government would partner Ghana to construct a $60 million cocoa processing factory in Sefwi Wiawso in the Western region.
The factory, when completed will be processing 45,000 capacity tonnes of cocoa and is expected to boost Ghana’s cocoa sector.
According to the Chief Executive of COCOBOD Mr. Joseph Boahen Aidoo, “Ghana have been looking out for market for the consumption of cocoa, so the acceptance of the Chinese government to partner with the Ghanaian government is a major boost to this plan, as Ghana has been producing cocoa for many years and has been looking out for a market for the consumption’’ he said.
The factory would be partly funded by the Chinese government with a $35 million grant, while Ghana takes up the remaining cost.
With the conventional market becoming stagnant, adding value to the cocoa will broaden the market space, the factory will run through the entire course of producing butter, cake, liquor, cake and chocolate bars.
Speaking at the event was Mr. Chai Zhijing, the Economic and Commercial Counsellor at the Chinese Embassy in Ghana, said this project will also boost Chain’s consumption of cocoa from Ghana.
“As China enjoys a surplus of a trade from Ghana we are hoping that this support to Ghana will help to encourage Ghanaian government to produce more finished products through this project,” he said.
Background to the story
The Chinese support for this factory follows Ghana’s petition to the Chinese government for assistance in establishing the cocoa factory.
The factory would boost the country’s exports, improve value addition and cocoa consumption locally.
Upon completion, the factory is expected to produce about 45,000 metric tonnes of cocoa bean annually into butter, liquor and many other cocoa products.
Trade Volume
The total trade volume of import and export between Ghana and China for last year, was $6.6 billion with China’s export at $4.8 billion and import from Ghana was around $1.8 billion.
A delegation from China is currently in the country to conduct a feasibility study on the proposed site for the construction of the factory.
Ghana and China have been enjoying a good trade relationship over the years.
