Ghana-Cote d’Ivoire Aspire for a Prosperous Cocoa Economy

To further the interests of cocoa producers, Ghana and Cote d’Ivoire, which together produce 65% of the world’s cocoa, have opened a permanent office in Accra. This initiative aims to build vibrant cocoa sectors in both countries and ensure the income of cocoa farmers.

The Cote d’Ivoire-Ghana Cocoa Initiative (CIGCI) secretariat building was commissioned and officially handed over by President Akufo-Addo, marking a significant step towards promoting effective economic development between the two nations.

“Our quest for agro-industrialization is repositioning the dynamics of the agricultural sector. The cocoa sector in Ghana, in particular, is witnessing the impact of these changes. Today’s launch is truly historic. This beautiful edifice does not only signify what regional unity and cooperation can achieve, but it also represents our shared aspiration for a prosperous cocoa economy, one that is modernized and industrialized in delivering wealth to the millions of hardworking cocoa farmers and producers in Ghana and Cote d’Ivoire.”

President Nana Addo Dankwa Akufo-Addo

The establishment of this office is in response to the challenges faced by the cocoa sector, including volatility in the world cocoa market and a decline in real prices of about 2% per year over the last half-century. The differentiation of processed products has led to relative stability of final prices, but at the expense of the producer’s share, which is now estimated at 5%.

President Akufo-Addo reiterated that Ghana is proud to host the headquarters of this initiative. The commitment to collective action for the attainment of prosperity for all in Africa remains undiminished. Both countries’ development lies in their collective efforts towards industrialization and fair trade within and outside the continent of Africa.

The vision of CIGCI is to transform the current cocoa sector into a prosperous and sustainable one. This includes providing decent wages to cocoa producers, contributing to the protection of forests and biodiversity, and being exemplary in terms of fundamental social and human rights.

President Akufo-Addo further remarked, “This cooperation is the beginning of a new chapter in the history of the African cocoa industry. We have, through this cooperation, created the opportunity to revolutionarise the cocoa supply chain for the delivery of greater value to our economies.”

Prime Minister of the Republic of Côte d’Ivoire, S.E.M Robert Beugré Mambé, in his address, emphasized the readiness of Côte d’Ivoire to collaborate closely with Ghana to ensure that cocoa farmers in both West African countries can fully benefit from their labor. He added that his country will give the needed leadership direction to the CIGCI for her to achieve all its stated objectives.

Additionally, the Minister for Food and Agriculture, Dr Bryan Acheampong, who doubles as the Chairman of the CIGCI Steering Committee in his remarks, noted that the Côte d’Ivoire-Ghana cocoa initiative is a clear example of how the cooperation between the two countries through their respective heads of state can overcome many challenges for the benefit of the two peoples of Ghana and Côte d’Ivoire.

The collaboration between Côte d’Ivoire and Ghana, as represented by the Prime Minister’s statement, highlights the importance of cooperation among cocoa supply chain stakeholders in achieving a thriving cocoa sector that benefits farmers.

The CIGCI’s efforts to improve cocoa farmers’ livelihoods through higher prices and better market control are crucial in the face of a highly volatile market. The initiative’s success in achieving a record-high mid-crop price is a clear indication of the potential for joint efforts to significantly impact the cocoa sector positively.

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