The cocoa sector across two West African nations is set to receive a multimillion-dollar boost.
US-based agricultural producer and distributor Cargill has announced a US$113 million investment to expand its cocoa-processing sites in Yopougon (Côte d’Ivoire) and Tema (Ghana).
According to the company, US$100 million will be spent on increasing production capacity at Yopougon by 50%, creating 85 permanent jobs and more indirect employment. The remaining US$13 million will go towards improving capacity at the Tema site by 20%.
Over the next three years, the company also plans to invest US$12.3 million in sustainability and supply-chain traceability programmes in both nations. The projects will be geared to enhance the safety and well-being of families in cocoa-farming areas; strengthen financial inclusion and the entrepreneurial skills of women; and develop a traceable supply chain for cocoa.
‘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,’ says Lionel Soulard, Cargill West Africa MD. ‘Working directly with both governments and other key stakeholders, we are committed to economic growth, building sustainable local businesses and diversifying sources of income for cocoa-farming communities.’
