‘Africa Produces 75% of World’s Cocoa and Only Gets 2% of the $100 Billion Industry…Why?‘
Africa is ranked as the largest producer of cocoa yet African farmers have little or nothing to show for it. In May, this opinion piece explored why African cocoa farmers are still languishing in poverty when they produce 75 percent of cocoa globally.
In the article, Urban Intellectuals revealed that many Africans hardly use any cocoa products, so they do not see the need to invest in any value addition processes that can make their cocoa more competitive in the global market.
Addressing the opening of the 51st edition of the African Development Bank (AFDB) annual meetings in Lusaka, Zambia, in May, the bank’s President Dr. Akinwumi Adesina said the time has come for Africa to move to the top of the value chain. Adesina insisted that Africa must “diversify its export mix and add value to all its raw materials by developing efficient and competitive value chains.”
