COCOBOD launches reward scheme to tackle cocoa smuggling

By Kizito CUDJOE

The country’s cocoa regulator has announced a new incentive scheme to curb the smuggling of cocoa beans across its borders, offering informants and anti-smuggling agents a third of the value of any confiscated cocoa.

The Ghana Cocoa Board (COCOBOD) said the initiative is part of a renewed drive to protect the country’s cocoa industry from illicit trade that drains state revenue and undermines farmer incomes.

“Under this arrangement, informants and anti-smuggling agents will receive one-third of the assessed value of confiscated cocoa as their reward,” COCOBOD said in a statement.

The measure, it added, is meant to strengthen public participation in the fight against cocoa smuggling and ensure the sustainability of the campaign.

Cocoa smuggling has long posed a challenge for Ghana, the world’s second-largest producer of the crop after Ivory Coast. Smugglers often move beans across porous borders in search of higher prices in neighbouring countries, a practice that authorities say deprives the country of foreign exchange and weakens the state’s capacity to support farmers.

COCOBOD said communities in border areas are key to the success of the effort and urged citizens to report illegal activities through a dedicated hotline, assuring them of confidentiality and prompt payment of rewards.

The agency reaffirmed its commitment to protecting the cocoa sector “for the benefit of farmers, the economy, and the future of Ghana’s cocoa industry.”

The post COCOBOD launches reward scheme to tackle cocoa smuggling appeared first on The Business & Financial Times.

Read Full Story