The Executive Director of the African Coconut Group (ACG), Kwaku Boateng, has indicated that the coconut sector has created in excess of over 1.8 million jobs in the value chain across the country.
He stressed that the sector has in existence supportive structures for new businesses to thrive hence to need for the youth or young entrepreneurs who wants to venture into business to explore opportunities in the coconut industry.
“The employment potential of the coconut industry currently is huge. It employs about 1.8 million Ghanaians due to government’s interventions complemented by a well-structured Coconut Federation, comprising nursery operators, producers (farmers), vendors, processors, and exporters,” he said.
He further mentioned that harnessing the potential of the coconut sector could significantly address Ghana’s unemployment issue, given the substantial demand for coconut products both locally and internationally.
He made these remarks during a coconut sector stakeholder engagement meeting with officials from the Western Regional Coordinating Council ahead of the 3rd International Coconut Festival, scheduled to take place in Takoradi from September 26th to 28th, 2023.
Mr. Boateng lauded the government’s commitment to fostering the growth of Ghanaian businesses in the coconut value chain, pointing to initiatives like the Coconut Revitalization Programme and Planting for Export and Rural Development (PERD).
“The Coconut Festival aims to promote investment in the sector, making it more appealing for Ghanaians to engage in various businesses within the coconut industry, ranging from production to manufacturing and export,” he remarked.
The third edition of the International Coconut Festival, themed: “Invest in Ghana’s Coconut Sector for an Inclusive Climate and Social Resilience,” is a collaborative effort between the African Coconut Group, the Western Regional Coordinating Council, the Ghana Export Promotion Authority (GEPA), SOLIDARIDAD, and the Tree Crop Development Authority (TCDA).
Activities for this year’s festival include seminars, mentorship programmes for youth entrepreneurs, farm visits, and sessions dedicated to women in the coconut industry.
In 2019, GEPA partnered with ACG to hold the first-ever International Coconut Festival in Ghana, which brought together exhibitors as well as major players to promote the coconut business.
The government added coconut to the Tree Crop Development Authority (TCDA), established in 2019 and mandated to develop and regulate the production, processing, marketing, and export of coconut and other selected tree crops.
The non-traditional export figures for 2022 indicated the coconut sector’s substantial economic contribution. Notably, earnings from both fresh and processed coconuts reached US$6.3 million and US$6 million, respectively.
Ghana’s export of desiccated coconut also emerged as a standout performer. Exports in this category rose to US$21.9 million in 2021, a significant increment from US$6.3 million in 2020.
