The investment, which came from one of the world’s largest agricultural traders, Cargill is aimed at creating 85 direct and hundreds of indirect jobs.
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Farmers Day: Ghana, Ivory Coast secures $113 million from global commodities trader, Cargill to expand cocoa processing facilities
Ghana and Ivory Coast, the largest cocoa manufacturing countries have secured more than $113 million to expand the cocoa processing facilities in both countries.
Farmers Day: Ghana, Ivory Coast secures $113 million from global commodities trader, Cargill to expand cocoa processing facilities
Cargill in a statement signed by the Managing Director Cargill West-Africa, Lionel Soulard noted that the company was also investing $12.3 million to expand sustainability and supply chain tracing programmes in the West African nations.
“We aim to shift a greater share of our global grinding activities to the countries of origin, so we can support the establishment of a broader, local agri-food industry,” the statement said.
Ivory Coast and Ghana produce some two-thirds of the world’s cocoa, but their industry is blighted by poverty, child labour and deforestation. Decades of industry efforts to source sustainably have done little to change this reality.
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Going up the value chain by expanding cocoa processing is a major objective for the Ivory Coast and Ghana governments, as selling processed or semi-processed cocoa products are more lucrative than exporting the raw material.
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