The Ghana Cocoa Board in collaboration with its partners, Touton-SA and Eliho Ghana Limited, are set to distribute an amount of GH₵ 41,288,689 as payment of premiums to cocoa farmers for the year 2023/24 crop season.
The amount is expected to be distributed to 47,240 farmers across 1,495 communities in 38 cocoa districts across the country.
Speaking at the announcement of the 23-24 Crop Year Loyalty Bonus Payment at Assin Fosu in the Central Region, the Country Director of Touton Ghana, Mr Ernest Dwamena, said based on available data, each household, on average, supplied 16 bags of cocoa, earning premium of GH₵ 1,088.48.
He further revealed that in addition to the payment of the premiums, an additional sum of GH₵ 10,000,000 has also been set aside for investment in community infrastructure projects this year, to further improve living conditions and boost local development.
According to him, to ensure transparency and accountability, payments of the premiums to farmers are expected to be done through the GCB digital payment platform, G-Money Financial Services (GMFS).
This method, according to the Country Director of Touton Ghana, does not only streamline the payment process but also enhances financial inclusion within our farming communities.
While commending cocoa farmers for their esteemed contribution to the cocoa industry and the country’s economy at large, Mr Dwamena reiterated the commitment of Touton Ghana to the development of sustainable cocoa production, pledging that the company will continue to deepen engagement with commodity-producing countries through improved processing operations and sustainable practices.
