An article by Dinfin Mulupi
Development agreement provides financial support to assist small scale farmers in the production of cocoa.
Cocoa farmers in West Africa will receive financing to promote local production of cocoa. This follows the signing of an agreement between the International Finance Corporation (IFC) , which is part of the World Bank Group, the World Cocoa Foundation and the Dutch Sustainable Trade Initiative to provide funding for cocoa farmers in order to improve production in the region.
Dubbed the ‘West Africa Cocoa Finance Program’, the initiative will benefit countries such as Côte d’Ivoire, Cameroon, Ghana and Nigeria. The program will assess the working conditions and challenges faced by small holder farmers in these countries, as well as carry out capacity building programmes and training aimed at improving financial education.
Farmers will also be educated on the importance of incorporating principles environmental practices. Environmentalists have raised concerns over the high land degradation caused by the use of chemicals which is likely to hamper sustainable cocoa production in the future.
The West Africa Cocoa Finance Program which will run for several years will involve the support of multinational cocoa manufacturers and processors like Nestlé, Mars Incorporated, Cargill, Armajaro, and Archer Daniels Midland Company.
The initiative will support over 20 million small holder farmers in the region who have continually encountered difficulties in accessing finance needed to sustain production of cocoa.
Despite the fact that West Africa produces 70 percent of the world’s cocoa supply, lack of access to finance has hindered farmers’ efforts to increase production and improve quality of cocoa.
As cocoa is the largest agricultural export within the region, improved quality and quantity of cocoa is an important step in empowering
farmers and uplifting socio-economic standards.
Photograph by Nestlé
JULIUS
November 10, 2010
This is the exact appropriate step towards improving the farmer’s living standards. Direct finance is what they mostly lack. It will be good if other crops will also be taken into consideration.
Chief S.B. Enow
December 7, 2010
This is a great step to the cocoa farmers in Cameroon and others who are helping the farmers.
This fund , will it help new farmers entering the cocoa market.
I am starting a large cocoa farm in cameroon next year ?
Umenjoh
January 13, 2011
Hi,
I am a cocoa farmer in the North West region of Cameroon. I am farming cocoa in the big village of Ngie which is predominantly inhabited by people who practice mostly palm oil production and are not aware of the benefits they could get if they embark on an intensive cocoa production. I have a Common Initiative Group which I have founded and I need funds to embark on production.
Thanks for the interest,
Umenjoh Peter
Alex Chersia Grant
January 25, 2011
Oh my word, Liberia is left out of this wonderful opportunity to assist small holder farmers, what a misfortune. Liberia also has cocoa farmers, vast fertile land and emerging cocoa farmers’ cooperative societies. Can someone please help on how to consider Liberia for inclusion to benefit from this fund?