By Sallieu S. Kanu
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, will on Thursday, January 18, 2024 organizing a technical roundtable in Freetown targeting public and private sector stakeholders to facilitate practical discussions for the sustainable development of Sierra Leone’s cocoa sector.
The technical roundtable is also geared towards raising awareness on the new market requirements and its potential impact on the sector’s performance, according to a media advisory from the World Bank country office.
Held with 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.
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.