Financial evaluation of cocoa mass spraying programme on the revenue generation of the Ghana cocoa board

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Cocoa has historically been a key in the economic sector and a major source of export and fiscal earnings to the Ghanaian economy (Bulir 1998; mckay and Aryeetey 2005). Cultivation of cocoa in large quantity started in the 1900 in the country and by the middle 1960s, Ghana was the world’s leading producer of cocoa producing 560,000 metric tons. Cocoa is by far Ghana’s most important crop. It dominates the agricultural sector and is a major source of income for approximately 800,000 farmers and many others engaged in trade, transportation, and processing of cocoa. Due to the massive contribution of the cocoa sub-sector to the socio-economic development of the country, successive governments have formulated various policies to increase the production level of the sub-sector. The National Cocoa Diseases and Pests Control (CODAPEC) programme, popularly known as “cocoa mass spraying programme” was initiated by Government of Ghana through Ghana Cocoa Board. The programme was started in 2001 to provide free spraying of cocoa farms for the farmers in order to control capsids and black pod disease. The National Cocoa Diseases and Pests Control (CODAPEC) Unit was formed to ensure the effective implementation of the project. The aim of the project was to reduce the black pod disease incidence and mired infestation significantly to facilitate increased production of cocoa that would also translate into increasing farmers’ income to enhance the living standard of farmers. It was on this basis that the study sought to identify whether it was worth implementing the Cocoa Mass Spraying Programme. It was found from the study that the programme is enjoying high levels of acceptance from the farmers in the country because it found a significant positive effect of total cost of the programme on the revenue generated which indicates that the programme is financially viable as it yields about 10 times the investment made. The study recommends a continuation of the programme to help boost revenue generation. Also, this study further recommends additional investments into the programme as the study finds a much higher increase in revenue with every cedi of investment in the programme.
A thesis presented to department of accounting and finance, college of humanities and social science In partial fulfillment of the requirement for the award of degree of master of science in accounting and finance