World Bank Holds Roundtable Conference on Sierra Leone’s Cocoa
By Mohamed Konneh
The World Bank Group, International Financial Corporation (IFC) on Thursday 18th January 2024 held a round table conference on Sierra Leone’s coco.
As part of their engagement with the government of Sierra Leone and the private sector, this participatory event, organized by the international finance corporation in collaboration trade centre explores practical solutions and provide participatory with the opportunity to contribute to the sustainable development of the cocao sector in Sierra Leone.
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.
As part of its engagement with the Government of Sierra Leone and the private sector, the International Finance Corporation (IFC), in collaboration with the International Trade Centre (ITC) and the European Union, is organizing a technical roundtable targeting public and private sector stakeholders to facilitate practical discussions for the sustainable development of Sierra Leone's cocoa sector and raise awareness on the new market requirements and its potential impact on the sector’s performance.
The conference was 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 include the Deputy Minister of Agriculture, Forestry and Food Security; Ministry of Trade and Industry; National Coordinator of the International Trade Centre; and the Country Coordinator for IFC.
