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IVORY COAST

French banks lose out on cocoa business

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“West African cocoa cartel battles with the traders”

IVORY COAST GHANA

West African cocoa cartel battles with the traders

By jointly introducing a premium of $400 per tonne on cocoa beans in autumn 2020, Ivory Coast and Ghana were seeking to ensure that cocoa producers' revenues were maintained. In so doing, however, they sparked off an open war with the big commodity traders, who have since taken steps to get round the measure and avoid paying the premium. This battle of wills has paralysed a sector which has already been badly affected by Covid-19 and speeded up the transformation of the trading sector, encouraging Ghana and Ivory Coast to trade their cocoa beans on their own account. [...]

The Conseil Café Cacao (CCC) is no longer holding its revenues with the Ivorian branches of French banks, preferring instead to use African establishments as a matter of course. [...] (359 words)

Issue dated 24/09/2020 Reading time 2 minutes

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Finance Commodity traders Business

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IVORY COAST
Aymeric Villebrun
Bank of Africa
Banque Atlantique
Banque d'Abidjan
Banque internationale pour le commerce et pour l'industrie de Côte d'Ivoire
Banque nationale d'investissement
BGFI
BNP
Bridge Bank
Cargill
Central Bank of West African States
Conseil Cafe Cacao
Coris
Fonds d'investissement en milieu rural
George Wega
Hamed Bakayoko
Rassemblement des houphouëtistes pour la démocratie et la paix
Societe Generale
Societe Generale Cote d'Ivoire
Standard Chartered Bank
Yao Kouassi
Yerim Sow

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Saf cacao, an export firm in San-Pedro, Ivory Coast. © Thierry Gouegnon/Reuters

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The Henri Konan Bedie toll bridge, Abidjan. © Reuters

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IVORY COAST Commodity traders Business 11/01/2021

Ouattara wants to bypass traders on the Chinese front

As it struggles to make cocoa traders pay the premium introduced last year in conjunction with Ghana, Ivory Coast is preparing to take its own steps in trading by opening a marketing office in China. [...]

Alassane Ouattara, on National Cocoa and Chocolate Day, in November 2020. © [email protected]_PRCI

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Cacao producers' revolt spills over into coffee industry

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Coffee berries being sorted in a Kenyan processing plant. © Thomas Mukoya/Reuters

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Ouattara campaigns on cocoa price in Akan country

In his efforts to secure his re-election, the Ivorian president, who is due in Yamoussoukro next month, hopes to win over the Akan people, who are traditionally more inclined to vote for his rival Henri Konan Bédié, by subsidising the price of cocoa beans, the main crop in Akan counties. [...]

IVORY COAST Business 13/07/2020

Receive free prompts for these topics

IVORY COAST
Aymeric Villebrun
Bank of Africa
Banque Atlantique
Banque d'Abidjan
Banque internationale pour le commerce et pour l'industrie de Côte d'Ivoire
Banque nationale d'investissement
BGFI
BNP
Bridge Bank
Cargill
Central Bank of West African States
Conseil Cafe Cacao
Coris
Fonds d'investissement en milieu rural
George Wega
Hamed Bakayoko
Rassemblement des houphouëtistes pour la démocratie et la paix
Societe Generale
Societe Generale Cote d'Ivoire
Standard Chartered Bank
Yao Kouassi
Yerim Sow

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