Minister Kobenan Kouassi Adjoumani Urges National and International Investors to Capitalize on Opportunities in Côte d'Ivoire's Cashew Sector
Minister Kobenan Kouassi Adjoumani Urges National and International Investors to Capitalize on Opportunities in Côte d'Ivoire's Cashew Sector
On Monday, September 23, 2024, in Abidjan, Côte d'Ivoire, the Minister of State, Minister of Agriculture, Rural Development, and Food Production, Kobenan Kouassi Adjoumani, encouraged both national and international investors to take advantage of the numerous investment opportunities available in the country’s burgeoning cashew sector.
During the opening of the Cashew Investment Forum, Minister Adjoumani emphasized that Côte d'Ivoire has yet to fully exploit the potential of local cashew processing. “With a transformation rate of just 21% in 2023, we are still far from our goal of processing 50% of our production by 2030,” he pointed out.
The minister highlighted that investments in the sector would significantly increase the country’s cashew production and processing capacities in a globally competitive environment. He also stressed the importance of adding value through local processing, which remains a largely untapped avenue for growth.
Côte d'Ivoire’s cashew production has more than doubled in the last decade, rising from 500,000 tons in 2013 to 1.2 million tons in 2023. These achievements are the result of a coherent government policy aimed at transforming the cashew sector through innovative strategies and encouraging investment.
Three Memorandums of Understanding (MOUs) were signed between the Cotton and Cashew Council and investors, securing at least 16 billion CFA francs in investments during the forum. The government’s initiatives have laid the groundwork for substantial growth in the sector, making Côte d'Ivoire a key player in the global cashew market.
With increased investment and local processing, Côte d'Ivoire aims to strengthen its position as a leading cashew producer while ensuring sustainable economic growth.
