Ghana Seeks Investment to Boost Cocoa Industry Amidst Poor Harvests

Ghana’s cocoa industry is facing a challenging period, with poor harvests for the third consecutive year. To address the situation, the Ghana Cocoa Board (COCOBOD) is in talks with major traders like Olam Group Ltd. and Barry Callebaut AG to secure at least a third of the $1.5 billion needed to support the industry. This move comes as unfavorable weather conditions, diseases, and a lack of fertilizer have significantly impacted cocoa yields. The country, a major cocoa producer, is hoping to revitalize its industry through this investment, aiming to improve farming practices and ensure a more stable future for the sector.