AfDB president Akinwumi Adesina’s take on landmark signing

After the African Development Bank (AfDB), Credit Suisse AG, the Industrial and Commercial Bank of China Limited and Ghana Cocoa Board (COCOBOD) signed a US$600mn loan agreement to boost cocoa productivity in Ghana, AfDB president Akinwumi Adesina described this as a phenomenal event

The deal is set to boost Ghana’s cocoa sector. (Image source: David Greenwood-Haigh/Pixabay)

“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 per cent of global supply of cocoa beans and Africa accounts for 75 per cent of all that, but only accounts for two per cent of the US$120bn 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,” Adesina further added.