Davies Korboe, President of the African Coconut Group (ACG), advocates for business leaders to capitalize on the untapped potential of Ghana’s coconut industry. With an emphasis on sustainable investment opportunities, Korboe presents coconut production and processing as both economically advantageous and environmentally friendly. He highlights the sector’s potential to yield high returns on investment, significant job creation, and the diversification of Ghana’s export base. Korboe underscored that the favorable climate and abundant arable land in Ghana position the coconut industry as a key player in the global market. Additionally, he advocates for the coconut industry as a preferable alternative to illegal mining operations, which often result in severe environmental degradation.
Urging entrepreneurs to rethink traditional export commodities, Korboe asserts that coconut can not only rival but potentially surpass established products, presenting a viable solution to unemployment in the country. His appeal is rooted in the industry’s capability to act as a catalyst for economic growth. He calls for collaboration among entrepreneurs to harness the coconut sector effectively, reinforcing the idea that this industry can greatly contribute to a more prosperous future for Ghana. Korboe’s vision aligns with the growing global demand for sustainable agricultural practices and products, which positions Ghana as an emerging leader in the coconut market.
In preparation for the upcoming International Coconut Festival Ghana, Korboe shared details about the event’s significance and potential impact. The festival is scheduled from October 21 to October 23, 2024, at the Accra International Conference Centre, and is themed “Empowering Lives Through Coconut — Innovation, Employment, and Sustainable Livelihoods.” The ACG is collaborating with various organizations, including the Ghana Export Promotion Authority (GEPA) and the Western Regional Coordinating Council (WRCC), to facilitate the event. This year’s festival promises to be a platform for trade exhibitions, seminars, and mentorship opportunities, especially targeting young people and women involved in the coconut sector.
The first International Coconut Festival was organized by the ACG in 2019, aiming to connect key stakeholders in the coconut value chain to promote the industry. Korboe’s proactive approach has led to significant strides in enhancing the coconut sector’s visibility. The Ghanaian government’s support for the sector has also been reflected through its inclusion in the Tree Crop Development Authority (TCDA), established in 2019 to oversee the development of selected crops, including coconut. This initiative underscores the government’s commitment to nurturing the industry and ensuring its sustainable growth.
Economic statistics underline the coconut industry’s rising prominence within Ghana’s non-traditional export sector. In 2022, the sector generated considerable revenue, with fresh coconuts bringing in approximately $6.3 million and processed products yielding an additional $6 million. These figures illustrate not only the economic viability of the coconut industry but also its potential for growth as a prominent export commodity. Such data strengthens Korboe’s calls for investment and participation in the coconut sector, suggesting a legitimate base for confidence in the industry’s future.
In conclusion, the combined efforts of the ACG, the Ghanaian government, and local entrepreneurs hold the promise of transforming the coconut industry into a leading economic driver for Ghana. By focusing on sustainable practices and community engagement, stakeholders can work towards harnessing the immense potential of the coconut sector. As the country prepares for the upcoming International Coconut Festival, the spotlight will undoubtedly be on how this collaboration can empower lives and promote sustainable livelihoods through innovation in coconut production and processing, ultimately contributing to a more diversified and resilient economy for Ghana.
