The Acting CEO of the Ghana Tourism Development Company Limited (GTDC), Professor Kobby Mensah, has emphasized the need for a structured approach to valuing Ghana’s cultural assets, including cocoa, folklore, festivals, and artefacts.
He noted that while Ghana has reaped economic benefits from cocoa, there remains a lack of formal recognition of its cultural and historical significance.
In a statement released on Monday and copied to the Ghana News Agency, Prof. Mensah proposed a formula for determining the value of a cocoa bean. This formula, referred to as the Sum of the Total Use of Cocoa (STU), considers the number of years cocoa has existed and projects its future significance.
“This formula aims to establish a quantifiable basis for assessing cocoa’s value beyond just its market price,” the statement read.
“Cocoa is more than just an economic commodity—it is an integral part of Ghana’s cultural and historical identity.”
The statement also acknowledged the Ministry of Tourism, Culture, and Creative Arts and the Ghana Tourism Authority for their role in promoting cocoa as a cultural asset through the National Chocolate Week celebration.
Under Prof. Mensah’s leadership, GTDC’s strategic vision is focused on four key investment and development pillars:
- Investment in Tourism Physical Infrastructure – Developing world-class tourism sites and facilities.
- Investment in Human Capital – Strengthening capacity building in the tourism sector.
- Investment in Cultural Assets – Preserving and promoting Ghana’s rich heritage.
- Investment in Technology and Innovation – Leveraging digital transformation to enhance tourism experiences.
The National Chocolate Week initiative seeks to boost local consumption of cocoa products, reinforce Ghana’s global leadership in the cocoa industry, and create new economic opportunities for local businesses.
“By integrating tourism with cocoa promotion, Ghana aims to enhance its global brand identity,” the statement added.
Prof. Mensah’s advocacy aligns with national and global efforts to promote heritage conservation and sustainable tourism. As Ghana continues to innovate in tourism and cultural preservation, industry leaders and policymakers are urging strategic initiatives to safeguard and maximize the long-term socio-economic benefits of the nation’s heritage assets.