Ghana and Cote d'Ivoire plan to raise the price farmers get paid for cocoa by about 21 per cent. Both countries account for over 60 per cent of the global production of the cocoa bean. Chike Nwagwu, CEO of Novus Agro, joins CNBC Africa’s Esther Awoniyi for more.
The inability to link Ivorian cocoa to the farmers raises questions on the sustainability of Cote d’Ivoire’s cocoa sector. That’s according to Edward George an Independent Commodities expert. George notes that at least 3 quarters of Ivorian cocoa production is not traced back to its source but adds that new technology can make it possible to digitally connect the farmer to the value chain. He joins CNBC Africa to discuss how technology is helping to improve cocoa production in Cote d’Ivoire.
The World Bank is projecting a 7 per cent economic growth for Cote d’Ivoire this year. Meanwhile, the world’s largest cocoa producer will hold its Presidential election this year. Ayalanesh Tafesse, Country Risk Analyst at RMB joins CNBC Africa for an outlook on Cote d’Ivoire’s economy.
The CEO of the Ghana Cocoa Board (GCB) says Ghana and Cote d'Ivoire have agreed to set up a stabilisation fund under its new pricing mechanism for cocoa beans to support farmers should producer prices drop on the international markets. Edward George, Independent Commodities Expert joins CNBC Africa for more.
Across the African continent, governments are introducing reforms to improve the ease of doing business, and all the while foreign investment is growing. Africa Investment Horizons was at the Africa CEO Forum in Abidjan, Cote d’Ivoire to find out why CEO’s on the continent are optimistic about the continent’s investment outlook.