The Ghana Export Promotion Authority (GEPA) has reaffirmed its commitment to supporting the country’s burgeoning coconut industry, often referred to as "green gold," through the adoption of innovative technologies aimed at driving economic transformation and creating jobs.

Osafohene Dr. Afua Asabea Asare, the Chief Executive Officer of GEPA, speaking during the opening ceremony of the fourth International Coconut Festival in Accra on October 21, 2024, emphasised that Ghana's coconut sector holds great potential for job creation and foreign exchange earnings, but its growth requires embracing innovation across the value chain.

“To maintain and expand our presence in the global market, we must adopt modern farming techniques, improved seed varieties, and advanced processing technologies,” Dr. Asabea Asare stated.

She asserted that these innovations are crucial for developing creative products that will ensure the sector’s sustainability and competitiveness.

“Coconut is truly a remarkable crop, often referred to as the ‘tree of life’ because of its versatility across various industries such as food, cosmetics, and pharmaceuticals,” Dr. Asabea Asare noted.

She highlighted that the sector has been prioritised in Ghana’s National Export Development Strategy (NEDS) due to its significant role in job creation, rural development, and poverty reduction.

The CEO also reaffirmed GEPA’s goal of generating at least $25.3 billion in export revenue by 2029 through the NEDS and noted that achieving this target will require deepened collaboration between public and private sector stakeholders.

Dr. Asabea Asare stressed the importance of ensuring the long-term sustainability of the coconut industry.

She called for promoting environmentally friendly practices, ethical sourcing, and fair trade to protect the environment and enhance the livelihoods of farmers and other stakeholders in the value chain.

“The future of the coconut industry lies in sustainability. We must ensure that the growth of the industry benefits everyone, from the farmers to the consumers, while safeguarding our environment,” she said.

Speaking ahead of the event, Kwaku Boateng, Director of the African Coconut Group (ACG), urged young Ghanaians to venture into the coconut industry, citing government interventions such as the Coconut Revitalization Programme and Planting for Export and Rural Development (PERD) as evidence of the state’s commitment to supporting the sector.

“Coconut is a game changer and the coconut industry alone can employ up to a million Ghanaians because of its well-structured value chain, which includes nursery operators, producers, vendors, processors, and exporters,” he pointed out.

The fourth edition of the International Coconut Festival, co-organized by GEPA, the Western Regional Coordinating Council (WRCC), and the ACG, aims to promote investment in the sector while providing mentorship and networking opportunities for young people and women.

The three-day International Coconut Festival runs from October 21 to 23, 2024.

Themed “Empowering Lives through Coconut: Innovation, Employment, and Sustainable Livelihoods,” the event serves as a platform to explore the economic potential of the coconut sector and discuss strategies for its growth.

The festival has attracted coconut farmers, policymakers, researchers, and marketers, with exhibitions showcasing a wide variety of coconut products at the Accra International Conference Centre.

Ghana has emerged as Africa’s leading coconut exporter and ranks 12th globally, producing over 500,000 metric tonnes of coconut annually.

In 2022, the country earned $15 billion from coconut exports, with projections to reach $25.3 billion by 2029.



AM/MA

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