Kuapa Kokoo Co-Operative Cocoa and Marketing Union Limited (KKFU) has seen its total income increased from GHS 27, 603,213.85 in 2017 to GHS 28, 455,951.44 as of July 31 this year.
Its net cash flow from investing activities also increased from GHS 2, 545,811.32 in 2017 to GHS 4, 031,185.02 within same period in 2018.
Mr Charles Kwaku Boateng, Deputy Registrar of KKFU who disclosed this commended members for their hard work to achieving the results, stressing that “the financial statements give a true and fair view of the financial position of KKFU and the performance and cash flow for the year are in accordance with the Co-operative Societies’ Act of 1968(NLCD 252) and industry standard.”
He was speaking at the 24th annual delegates conference of KKFU which coincided with their 25th anniversary which under the theme, “Celebrating 25 years of Championing Sustainable Cocoa Production in Ghana.”
President of the KKFU, Fatima Ali, indicated that “by operating for 25 years, we have come of age and must take our destiny into our own hands by introducing innovative ways of doing business and forming strategic partnerships that would make a positive impact on our farmers and the future of Kuapa Kokoo.”
She pointed out that the KKFU had completed its TeleAgric center that would soon be opened to the benefit of their farmers and community members.
She said 87 smartphone tablets have been given to farmer executives in the various societies across the Kuapa Kokoo districts and additional 250 mobile handsets have been procured with financial support from Root Capital, for the farmers to have access to the TeleAgric center through a toll-free line.
In line to increase market share, she indicated that 30 graduates have been employed as depots keepers, supplied electronic tools of trade and put in place measures to deal with embezzlement and corrupt practices which have resulted in the purchase of 64,561 out of 70,000 metric tonnes of cocoa.
“We are achieving a target of 92.23 per cent for the 2017/2018 season and increasing our market share position from 4.2 per cent to 7 per cent in the cocoa sector. This performance is unprecedented since the formation of Kuapa Kokoo 25 years ago”, she said.
In the area of training and capacity building, she said the Union had collaborated with several organisations to train, educate and build farmers and staff capacity in areas such as certification protocols and requirements to improve operations, farm maintenance practices such as pruning, fertiliser application, weeding and composting, health and safety management, safe handling of agro chemicals including storage and child trafficking.
She mentioned KKFU’s yam project to empower women economically to expand farmer income and increase food security and 100,450 seed yam have been distributed to 279 farmers in 27 zones in 12 societies.
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