IFC and Absa Bank Ghana Announce $200 Million Cocoa Financing Initiative
IFC partners with Absa Bank Ghana and Complete Farmer to provide up to $200 million to Licensed Buying Companies for cocoa purchases.
In Brief
- •IFC partners with Absa Bank Ghana and Complete Farmer to provide up to $200 million to Licensed Buying Companies for cocoa purchases.
- •IFC and GAFSP will supply up to $50 million in an unfunded risk participation facility to support Absa’s financing.
- •The program aims to sustain market access for more than 139,000 smallholder farmers and promote traceable, climate‑aligned cocoa production.
- •Complete Farmer receives a $2.4 million convertible loan and $660,000 in advisory support to scale input financing for 240,000 farmers by 2030.
Why It Matters
Ghana’s cocoa sector is a cornerstone of the national economy, employing nearly 800,000 farmers and contributing significantly to exports. By expanding credit to Licensed Buying Companies, the initiative seeks to secure reliable market access for smallholder farmers, strengthen the value chain, and encourage sustainable, traceable production aligned with the Paris Agreement. The partnership also leverages technology through Complete Farmer, aiming to broaden input financing and agronomy services to 240,000 farmers by 2030, potentially boosting productivity and livelihoods across the country.
Key Details
- Total Financing to Licensed Buying Companies
- $200 million
- Risk Participation Facility
- $50 million
- Smallholder Farmers Covered
- 139,000
- Farmers Reached by Complete Farmer by 2030
- 240,000
- Convertible Loan to Complete Farmer
- $2.4 million
- Advisory Support to Complete Farmer
- $660,000
Context & Background
Ghana’s cocoa sector is a cornerstone of the national economy, employing nearly 800,000 farmers and contributing significantly to exports.
Original Reporting & Sources
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