The Ghana Cocoa Board, in collaboration with partners Touton-SA and Eliho Ghana Limited, has announced a disbursement of GH₵ 41,288,689 as premiums to cocoa farmers for the 2023/24 crop season.
The premiums will benefit 47,240 farmers across 1,495 communities in 38 cocoa districts nationwide, marking a significant investment in Ghana’s agricultural sector.
Ernest Dwamena, Country Director of Touton Ghana, disclosed that each household will receive GH₵ 1,088.48 on average based on their cocoa supply of 16 bags.
He also highlighted an additional GH₵ 10,000,000 earmarked for community infrastructure projects to enhance local development and living standards.
Payments will be facilitated through the GCB digital payment platform, G-Money Financial Services (GMFS), ensuring transparency and financial inclusion within farming communities.
Mr Dwamena underscored Touton Ghana’s commitment to sustainable cocoa production, citing ongoing efforts in farmer training, environmental protection, and social responsibility initiatives.
These include supporting diverse income-generating activities and significant community infrastructure projects such as schools.
He emphasized collaboration with COCOBOD to combat child labour and adhere to EU regulations on deforestation, promoting sustainable practices in cocoa production despite challenges posed by illegal mining.
Nii Ayikai Ribeiro, Commercial Lead at G-Money Financial Services Limited, highlighted the partnership’s role in empowering farmers through secure and reliable financial services since 2020.
This collaboration aims to enhance socio-economic livelihoods and operational efficiencies within Ghana’s agricultural sector, fostering greater financial control and transparency for cocoa farmers.
The initiative reflects a concerted effort to bolster Ghana’s cocoa industry while prioritizing sustainable development and community welfare.
