Ghana commits $60m to boost cashew sector

The Chief Executive of the Tree Crops Development Authority (TCDA), William Agyapong Quaittoo, has disclosed the government's plan to invest $60 million in the cashew sector, with a significant focus on processing.

According to a Graphic Online report, Quaittoo revealed that the government had secured a $100 million loan from the World Bank, with $60 million earmarked for the cashew

Read full articleindustry. Notably, 70% of this investment will be channeled into establishing factories across eight regions, enhancing cashew processing capabilities.

Highlighting Ghana's current low cashew processing rate of only 10%, Quaittoo expressed the goal of increasing this figure to 50% within six years, aiming for significant industry growth and value addition.

Emphasizing the importance of continuity beyond changes in government, Quaittoo urged support for the initiative to ensure its sustained progress.

Quaittoo made these remarks during the 6th Consultative International Cashew Council (CICC) conference held at the Kempinski Hotel in Accra, attended by ministers of Agriculture, Trade, and Industries from 12 African countries. The conference aimed to strategize on bolstering Africa's dominance in the global cashew market through local consumption, value addition, and job creation.

The event welcomed new member Mozambique, expanding the council's reach and influence in advancing the cashew sector's agenda.