Audio By Carbonatix
Global commodities trader Cargill says it is investing more than $113 million to expand its cocoa processing facilities in the Ivory Coast and Ghana, creating 85 direct and hundreds of indirect jobs.
Cargill, one of the world’s largest agricultural traders, said it is also investing $12.3 million to expand sustainability and supply chain tracing programmes in the West African nations.
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.
“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,” Lionel Soulard, managing director Cargill West-Africa, said in a statement.
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 is more lucrative than exporting the raw material.
Latest Stories
-
New legal framework to enhance more efficient, investor-friendly services in Ghana – GIPA CEO
5 minutes -
Ghana makes impressive progress toward macroeconomic stabilisation, debt sustainability, but vulnerabilities remain – IMF
9 minutes -
Access Bank and Mantrac Ghana seal financing partnership to power construction and mining companies
19 minutes -
NDC to resolve branch election challenges before constituency polls – Asiedu Nketia
27 minutes -
NDC Chairman pushes back on spending criticism, says gov’t will pay for work done
39 minutes -
Yes, we get it, but really?
52 minutes -
Association of Private schools accuse WAEC of ‘serious discrepancies’ in 2026 BECE grades
55 minutes -
We’ve stabilised the economy – Asiedu Nketiah says NDC has laid foundation for jobs and growth
1 hour -
BoG to sell up to $1bn in August as cedi faces fresh dollar demand pressure
1 hour -
Maintain this pace, and we’ll retain power – Asiedu Nketiah confident of NDC re-election
2 hours -
Nigeria’s Dangote refinery aims to raise $5 billion with October listing, source says
2 hours -
Cameroon’s Biya, unseen for 58 days, reshuffles military leadership
2 hours -
Nigeria’s Tinubu approves military pay rise as security challenges persist
2 hours -
I sleep well because I stand by the truth – Asiedu Nketiah defends tough leadership decisions
2 hours -
Rare monkey’s disappearance signals wider biodiversity crisis in West Africa, scientist warns
3 hours