Cocoa Sector Program - West Africa Cocoa Farm Finance Program

Initiated in 2010, the project aims to improve the lives of millions of cocoa farmers and rural community members in West Africa, particularly in Côte d’Ivoire, by accelerating the provision of sufficient and affordable access to finance from financial institutions and complementary sources.  Availability of finance is expected to result in (i) increased revenues and improved efficiencies due to better yields and improved quality of cocoa bean, and (ii) facilitate the incorporation of best practices into farming operations.

West Africa accounts for about 70% of the global supply of cocoa, 90% of which is grown on 2 million small family-run farms, the majority with land holdings of 2 hectares or less.  The sector directly and indirectly impacts the livelihood of at least 20 million smallholder farmers, their families and their rural communities. But the cocoa sector in West Africa, particularly in Côte d’Ivoire, suffers from declining yields and quality as well as serious environmental and social issues, such as the presence of the worst forms of child labor and loss of biodiversity, the latter due to the encroachment of cocoa farmers into primary forest areas.

As a response to the industry IFC , in collaboration with WCF and IDH, is promoting the Cocoa Farm Finance Program (“The Program”). The Program is a three phase multi-year approach that will commence with an IFC Advisory Services intervention in partnership with global manufacturers, cocoa processors, international traders and possibly other players. The initial focus of the program will be in Côte d’Ivoire, and possibly in Nigeria and Cameroon.