Cocoa Farmers Enrolled On Life Insurance And Pension Scheme

By Isaac Okyere

Over six thousand cocoa farmers across cocoa growing districts in various regions within the country have been enrolled on a life insurance policy.

The policy package commenced by Nyonkopa cocoa buying company to support cocoa farmers includes Life assurance, Child education support and Pension among others.

Nyonkopa is a Licensed Buying Company in Ghana authorized to buy cocoa directly from farmers to be integrated into Barry Callebaut’s direct sourcing organization, Biolands.

Barry Callebaut, the world’s leading manufacturer of high-quality chocolate and cocoa products, acquired Nyonkopa Cocoa Buying Company Limited in Ghana.

Nyonkopa is among the top ten private Licensed Buying Companies in Ghana authorized by the Ghana Cocoa Board to buy cocoa from farmers and to sell it to the Cocoa Marketing Company of the COCOBOD.

Founded in 2012 and became operational in the 2013/14 crop season, the company has a strong buying network, has about 100 employees and 600 purchasing clerks and is buying cocoa from over 10,000 cocoa farmers spread across 34 districts in Ghana’s main cocoa regions.

Cocoa production is one among the economic backbone of export commodities that scheme the economy of this country, Ghana.

Yet farmers who engage in such cocoa farming activities are struggling to enjoy better life, especially during their old age.

It is often believed that the poor condition of some farmers scares most youth, especially graduates of this nation to venture into such industrious production.

The situation, among other leading factors has led to the decline of quantity of cocoa beans produced every year.

As part of mechanisms to support farmers to boost cocoa farmers’ life, the production and its economic revenue, “Nyonkopa” Cocoa buying company has initiated farmer’s life insurance policy.

The insurance package include includes Life assurance, Child education support and Pension plan, just to mention few.

The policy seeks to enhance the welfare of cocoa farmers in their retirement age, and even after death.

Over 6,000 people have already been enrolled unto the schemes in less than two months.

The company has presented check of Ghc10, 000 each (GHC 3,000) at a funeral of three deceased beneficiaries’ families for the first time to authenticate it reality, during the weekend.

The beneciaries are the late Agya Kofi Nimo family from Bayerebon #5, the family of the late Kwame Agyakum in Kumasi, and the late Kofi Sah.

The head of Operations at Nyonkopa cocoa Mr Pious Vincent Abekah explains the policy in an interview with media saying it will improve the conditions of farmers.

He hinted that, the policy “is fully in line with our strategy to make cocoa farming more sustainable and attractive to farmers and our approach to focus on farmer productivity and community development”

“If the farmer passes away, he company gives to the deceased family Ghc 1,000 and if a member loses a wife or a husband, the farmers goes away with Ghc 500”. He quipped.

He indicated the company is partnering cocoa board to engage in replanting exercise.

Beneficiary farmers
Some farmers applauded the initiative saying it is best and it will boost their eagerness to engage more into cocoa production to help enhance the country economic revenue.

They, therefore, appealed to government to support Nyonkopa Company to expand their wings to all cocoa farmers across the country.

Modern Ghana

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