The Ghana Cocoa Board (COCOCBOD) is set to enrol 796,000 cocoa farmers in a pension scheme, marking a significant milestone in the country’s cocoa industry.
The initiative, aimed at securing the future of cocoa farmers, is the result of extensive stakeholder engagement and meticulous planning.
According to the Public Affairs Manager of COCOCBOD, Fiifi Boafo, the pension scheme will be piloted in three districts, notably New Edubiase, Tarkwa, and Wassa Akropong from July 15.
The pilot phase will test the machines and processes for two months, after which the scheme will be rolled out to all cocoa districts.
COCOCBOD will support the scheme with 1% of sales from every cocoa season, while farmers are expected to contribute 5% or an agreed amount from their sales.
The pension scheme is designed to provide financial security for cocoa farmers in their old age, ensuring a dignified retirement.
Mr. Boafo emphasized that the initiative has nothing to do with election scoring points, but rather a culmination of a thorough process that began with the launch of the scheme in December 2020 in Kumasi.
“We have worked tirelessly to ensure the successful implementation of this programme, and we are confident it will make a significant difference in the lives of our cocoa farmers,” he said.
By October, all cocoa farmers are expected to be registered for the scheme, marking a significant step towards a more sustainable and equitable cocoa industry.
This innovative programme is a demonstration to COCOCBOD’s commitment to the welfare of cocoa farmers and their contribution to Ghana’s economy.
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