Figure 1.
Conceptual framework for diagnosing business model identities in a regulated commodity sector
Figure 2.
Map of the on-farm study area
Table 1.
Business model typology grid
| Financial | Physical | Intangible | Human | |
|---|---|---|---|---|
| Creator | Entrepreneur | Manufacturer | Inventor | Human Creator |
| Distributor | Financial Trader | Wholesaler/Retailer | Intellectual Property Trader | Human Distributor |
| Landlord | Financial Landlord | Physical Landlord | Intellectual Property Landlord | Contractor |
| Broker | Financial Broker | Physical Broker | Intellectual Property Broker | Human Resource Broker |
[i] Source: Adapted from Malone et al., 2005
Table 2.
Document analysis data extraction framework
| Actor | Documents Analysed | Key Data Extracted for BMI Profiling |
|---|---|---|
| COCOBOD | PNDC Law 81 (Statute); Annual Reports (2015–2020); Policy Directives; Licensing Templates. | Statutory mandates and objectives; revenue mechanisms (levies, fees); asset composition (physical, intangible, financial); licensed activities; vertical coordination rules; investment portfolio in subsidiaries. |
| PBC Ltd | Annual Reports (2015–2020); Operational Reports. | Authorized business activities; asset structure (property, plant, equipment, inventory, receivables); revenue streams from cocoa and non-cocoa activities; ownership structure and investments; evidence of contractual relationships with COCOBOD and farmers. |
| Cocoa Processing Company (CPC) Ltd | Annual Reports (2015–2020); Product Listings; Corporate Website. | Core business activity description; breakdown of property, plant & equipment vs. inventory; product portfolio (semi-finished vs. finished); sales and revenue data; ownership links to COCOBOD. |
Table 3.
Nature of assets held by the Bean Input Producer (BIP) model
| Business assets | Physical Existence | Convertibility | Usage | Share(%) of total assets (GHS 5.6 million) |
|---|---|---|---|---|
| Land | tangible | fixed | operating | 7.65 |
| Equipment | tangible | fixed | operating | 2.75 |
| Cocoa beans | tangible | current | operating | 89.60 |
| Cocoa trees | tangible | fixed | operating | n/a |
| Total | 100.00 |
Table 4.
Nature of assets held by the Statutory Composite Cocoa Agribusiness (SCCA) model
| Recurrent assets | Physical Existence | Convertibility | Usage | Share(%) of total assets (GHS 13679.2 million) |
|---|---|---|---|---|
| Intangible assets | intangible | fixed | non-operating | 4.96 |
| Contract assets | intangible | fixed | operating | 12.81 |
| Property, plant & equipment | tangible | fixed | operating | 26.49 |
| Investment properties | tangible | fixed | non-operating | 0.14 |
| Right of use assets | intangible | fixed | operating | 0.28 |
| Trade & other receivables | intangible | fixed | operating | 35.81 |
| Investment in subsidiaries | intangible | fixed | non-operating | <0.01 |
| Investment in associate | intangible | fixed | non-operating | 0.03 |
| Other investments | Intangible | fixed | non-operating | 0.06 |
| Inventories | tangible | current | operating | 7.49 |
| Other financial assets | intangible | current | non-operating | 3.84 |
| Cash and cash equivalents | intangible | current | operating | 8.09 |
| Total | 100.00 |
Figure 3.
Issuance of cocoa marketing licenses by the SCCA model operator
Table 5.
Nature of assets held by the Composite Agricultural Commodities Distributor (CACD) model
| Recurrent assets | Physical Existence | Convertibility | Usage | Share(%) of total assets (GHS 643.4 million) |
|---|---|---|---|---|
| Property, plant and equipment | tangible | fixed | operating | 53.50 |
| Intangible assets | intangible | fixed | operating | 0.02 |
| Investment in subsidiaries | intangible | fixed | non-operating | 6.51 |
| Available for sale financial assets | intangible | fixed | non-operating | 0.59 |
| Leasehold prepayment | intangible | fixed | operating | 0.17 |
| Medium-term investments | intangible | fixed | non-operating | 0.07 |
| Inventories | tangible | current | operating | 8.34 |
| Trade and other receivables | intangible | current | operating | 22.73 |
| Short-term investments | intangible | current | non-operating | 1.41 |
| Current tax credit | intangible | current | operating | 0.02 |
| Cash and cash equivalents | intangible | current | operating | 6.65 |
| Total | 100.00 |
Table 6.
Nature of assets held by the Chocolate Manufacturer (CM) model
| Recurrent assets | Physical Existence | Convertibility | Usage | Share(%) of total assets (USD 136.5 million) |
|---|---|---|---|---|
| Property, plant and equipment | tangible | fixed | operating | 85.96 |
| Inventories | tangible | current | operating | 7.35 |
| Current tax assets | intangible | current | operating | <0.01 |
| Trade and other receivables | intangible | current | operating | 3.66 |
| Prepayments | intangible | current | operating | 1.64 |
| Fixed deposit investments | intangible | current | non-operating | 0.83 |
| Cash and cash equivalents | intangible | current | operating | 0.55 |
| Total | 100.00 |
Table 7.
Asset structure ratios of cocoa agribusiness models
| Agribusiness Model | Tangible/Intangible Ratio | Fixed/Current Ratio | Operating/Non-operating Ratio |
|---|---|---|---|
| BIP | ∞ (All tangible) | 0.12 | ∞ (All operating) |
| SCCA | 0.52 | 0.93 | 9.70 |
| CACD | 1.62 | 1.55 | 10.67 |
| CM | 13.96 | 6.13 | 118.79 |
Figure 4.
Interaction of agribusiness models in Ghana's cocoa sector