The International Finance Corporation (IFC), in collaboration with the International Trade Centre (ITC) and the European Union, will today Thursday 18 January 2024, hold a technical roundtable on the Sierra Leone Cocoa Sector, at the Mamba Point Lagoonda Hotel, as part of its engagement with the Government of Sierra Leone and the private sector.
In its media advisory, the IFC says it is organising the technical roundtable to target public and private sector stakeholders and facilitate practical discussions for the sustainable development of Sierra Leone’s cocoa sector and raise awareness of the new market requirements and its potential impact on the sector’s performance.
The cocoa sector in Sierra Leone is a vital contributor to the country’s economy, ranking as the third-highest export revenue earner. In 2018, it generated over US$22 million, constituting 11% of the nation’s total exports.
Despite this positive trajectory, a substantial gap exists between Sierra Leone’s current cocoa exports and its export potential, revealing a potential untapped opportunity of around US$30 million.
Held under the theme, ‘Making Sierra Leone’s Cocoa Sector Investible and Sustainable’, this collaborative effort aims to foster policy changes and create sufficient room for government collaboration, marking a significant step towards realizing the full potential of the country’s cocoa industry.
Among the key speakers are the Minister of Agriculture, Forestry and Food Security; Minister of Trade and Industry; National Coordinator of the International Trade Centre; and the Country Coordinator for IFC.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries.
