As part of its mandate to create a favorable atmosphere for industrial crops and tree growth for Ghana’s economic growth, the Tree Crops Development Authority (TCDA) has held a seminar to educate stakeholders within its value chain on the government’s plans for the sector. The TCDA Operations and Strategic Focus workshop, which was held in Accra, rehashed that the Government of Ghana is committed to supporting the production and value chain, licensing and regulation, research, and capacity building of the various actors within the sector. The CEO of TCDA, William Agyapong Quaitoo, in his presentation stated that the government is dedicated to aiding large-scale production, processing, and export of all six (6) focus crops under TCDA. Oil palm, cashew, mango, and rubber have each been allocated 15%ofthe total revenue, while coconut and shea take 20% each out of the total revenue allocation.
The coconut industry has the capacity to earn the country 2 billion dollars in terms of revenue by the end of 2023.
He further stated that, in order for Ghana’s local economy to fully benefit from international trade, Ghanaian agricultural companies should understand the significance of licensing and compliance with trade regulations, particularly in export. An Agricultural Researcher Vice President of the Coconut federation of Ghana (COCOFEG), Kwaku Boateng applauded the Akuffo-Addo administration for setting up the TCDA and demonstrating high confidence in the coconut industry by giving it the highest increment through the TCDA revenue allocation. He also disclosed the coconut industry has the capacity to earn the country 2 billion dollars in terms of revenue by the end of 2024. Mr. Boateng also added that that COCOFEG will continue to support the initiative to help Ghana realize its full potential for job creation and economic growth. The Ministry of Food and Agriculture (MoFA) also estimates that under the TCDA, Ghana will be earning 16 billion dollars from the tree crop industry in annual incomes from 2028.
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