GhArticles.com Every News in Detail
The Chief Executive of the Tree Crops Development Authority (TCDA), William Agyapong Quaittoo, has announced that the Ghanaian government has committed to investing $60 million in the cashew sector, with a focus on processing.
This investment is part of a larger $100 million loan from the World Bank, with the majority earmarked for cashew sector development.
Quaittoo stated that 70% of the $60 million will be used to build several processing factories in cashew catchment areas across eight regions of Ghana. Currently, Ghana processes only 10% of its produced cashew nuts and aims to increase this to 50% within six years.
Speaking at the 6th Consultative International Cashew Council (CICC) conference in Accra, Quaittoo emphasized the importance of continuity in the initiative, urging Ghanaians to support and sustain it regardless of changes in government. The conference, attended by ministers of Agriculture and Trade and Industries from 12 African countries, focused on strategies to enhance Africa’s dominance in the global cashew sector through local consumption, value addition, and job creation.
The theme of the conference was “Projecting the cashew sector through local consumption, value addition, and job creation,” with member countries such as Ghana, Côte d’Ivoire, Benin, Togo, Nigeria, Cameroon, Senegal, Mali, Guinea, Guinea-Bissau, Burkina Faso, and Mozambique (the newest member) participating in discussions and adopting mechanisms to advance the cashew industry.
