African Development Bank, Credit Suisse, Industrial and Commercial Bank of China and Ghana Cocoa Board have signed a $600 million loan agreement to boost cocoa product
AfDB President, Akinwumi Adesina who attended the signing in Johannesburg on Tuesday during the Africa Investment Forum, described the event as a great day for Africa.
“Ghana is bankable. Cocoa is bankable, and of course, Africa is bankable”, Adesina said.
“This is a phenomenal event, the result of hard work of everybody to make this happen.
“I want to thank the leadership of President Nana Akufo-Addo for making sure that his country and Africa can get to the top of the value chain in processing cocoa into a wide range of chocolates, among others.
“When you see a situation in which Ghana and Cote d’Ivoire account for roughly 65% of global supply of cocoa beans and Africa accounts for 75% of all that, but only accounts for 2% of the $120billion chocolate market, something is wrong.
“This is a great day, and this is what the Africa Investment Forum is slated for: to make big things happen for Africa.