The Ghana Commodity Exchange (GCX) and World Food Programme (WFP) have successfully organised a high-level stakeholder engagement event in Accra.
Focusing on the cashew sector, the event aimed to enhance the cashew value chains and promote Ghana’s cashew industry. Officials, industry representatives, farmers, traders and experts discussed key issues related to the cashew value chain.
At the event, the GCX and Tree Crops Development Authority (TCDA) agreed on joining forces to provide the best model for cashew trading in Ghana.
The Chief Executive Officer (CEO) of the Ghana Commodity Exchange, Tucci Ivowi, highlighted the organisation’s role within the wider ecosystem in contributing to economic transformation through agriculture – in line with government’s plans for growth through its flagship agricultural programmes and value chain linkages, such as Planting for Food and Jobs and One District, One Warehouse.
The event facilitated dialogue, knowledge-sharing and collaboration to identify opportunities and challenges within the cashew sector.
The Chief Operations Officer of GCX, Robert Owoo, showcased the proposed cashew aggregation and trading model, receiving positive feedback from the Tree Crops Development Authority represented by its deputy CEO-Operations, Foster Boateng. Further discussions on the model’s fine details and its implementation are planned.
Barbara Clemens, Country Representative at WFP, expressed support for GCX; emphasising the need to enhance prospects in the value chain and facilitate access to credit for producers/farmers. GCX’s innovative platform received praise for promoting transparency, efficiency, fair pricing and reducing post-harvest losses.
Stakeholders present including Kofi Yamoah-GCX Board Chair, KingdomExim, Mastercard Foundation, SECO, Letshego, USAID, just to mention a few, explored collaborations to benefit more farmers and traders.
GCX said it will continue to facilitate discussions on market access, price discovery and trading mechanisms for agricultural commodities, as integration into the formal trading system can contribute to price stability and increased market transparency.
Rev. Daniel Ogbarmey Tetteh, Director-General of SEC Ghana, emphasised the importance of stakeholder collaboration for achieving food security. Fine-tuning the model through further engagement will lead to a win-win situation for all.
The stakeholder engagement event fostered collaboration and partnerships, informing policies and interventions for sustainable growth in Ghana’s cashew industry.
About Ghana Commodity Exchange
The Ghana Commodity Exchange (GCX) is a regulated market that connects buyers and sellers of commodities to trade in a transparent, efficient and secure environment. GCX aims to transform the agricultural sector in Ghana by providing fair pricing, access to finance and improved market linkages for farmers and other participants.