Ghana has announced a new plan of establishing a 100 million dollar chocolate factory in Western North region which is a joint venture with China. After the completion, the factory will make chocolate using 50,000 tonnes of cocoa beans annually.
Agriculture Minister, Dr. Owusu Afriyie Akoto made this known while addressing at Ecobank Ghana’s arranged program on the supply chain of the product. He further revealed that both countries will sign the agreement soon in Ghana. Dr. Afriyie Akoto explained that China will provide 60 million dollars while Ghanaian investors will invest 40 million dollars.
He described the Western North area as a hub area for cocoa growing which is also contributing for years in earnings. Besides providing job opportunities, the move will also increase the value and cocoa production.
Ghana is famous as one of the leading producers of cocoa on a global scale. But the problem is that below 15% of it used to make products like chocolate. This situation has also negatively affected the consumption of local chocolates. Cocoa Processing Company reported that average Ghanaians eat 400 grams of chocolate per day while developed nations consume three times more than Ghanaians. The worldwide chocolate market will reportedly reach worth 161.56 billion dollars in the next five years.
Read More: Ghana Business News
