The West Africa Nation of Sierra Leone Cocoa Rated as the 3rd Highest Export Revenue Dividend for Sierra Leone

By Abdul Rahman Bangura-

Photo Credit: Istock

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- This feat was achieved by the Administration of Sierra Leone and the Private Sector, the International Finance Corporation (IFC), in alliance with the International Trade Centre (ITC) and the European Union, in a technical roundtable on January 18th, 2024.

This circumstance was to brace up public and private sector real participants to expedite viable talks for the sustainable development of Sierra Leone’s cocoa sector. It was same to awakening knowledge of new market strategies and its potential influence on the sector’s performance.

The theme, ‘Making Sierra Leone’s Cocoa Sector Investible and Sustainable,’ pronouncing these collaborative endeavors gears to accelerate policy changes and establish enough space for government collaboration, marking a viral path towards actualizing the full potential of the Sierra Leone’s cocoa industry.

IFC disclosed a media advisory which remarked that in 2018, the cocoa sector generated over $22 million, constituting 11% of the nation’s total exports. It noted that despite this positive trajectory, a substantial chasm dwells between Sierra Leone’s current cocoa exports and its export potential, revealing a potential untapped chance of around $30 million.

At the World Economic Forum’s 54th, Annual Meeting held on the 15th, January 2024, IFC seeks to offer a vital road map in a bid to concentrate on the fundamental principles driving trust, encircling transparency, consistency and accountability.

The meeting attracted over one hundred representatives of governments, major international organizations, civil society, youth groups, entrepreneurial businesses, and news outlets.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent