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

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.

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.

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.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Amazing transformation of 21-year-old man bullied for being born different (video)

Amazing transformation of 21-year-old man bullied for being born different (video)

Abel Mutua's movie makes over Sh4M in 5 days

Abel Mutua's movie makes over Sh4M in 5 days

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

5 things you should never do to please a woman

5 things you should never do to please a woman

British MP claims she didn't know her flat was owned by the Kenyatta family

British MP claims she didn't know her flat was owned by the Kenyatta family

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Sh79,000 per month jobs for Kenyans without degrees

Sh79,000 per month jobs for Kenyans without degrees

Mulamwah and girlfriend Sonie welcome a bouncing Baby Girl (Photo)

Mulamwah and girlfriend Sonie welcome a bouncing Baby Girl (Photo)

Diamond Platnumz splashes Sh5.2 Million on new Gold & Diamonds Chain [Video]

Diamond Platnumz splashes Sh5.2 Million on new Gold & Diamonds Chain [Video]