admin | September 5, 2016
Smuggling, tax evasion, restrictive tariffs, and corruption are being blamed for the Cote d’Ivoire cacao industry’s loss of 2,500 billion West African francs ($4.3 billion US) over the past 24 years.
The United Nations Conference on Trade and Development noted the problems in a recent report. The report says that the lost funds could have been used by the government to address development challenges in the country. The corruption in Cote d’Ivoire’s cacao industry is being compared to that of Nigeria’s petrol industry and the mineral industries in Zambia and South Africa.
In October 2014, the Ivorian government implemented measures to reduce fraud in the cacao industry, but exporters have complained that these have caused delays in the production chain.
To read the full article, go to: http://www.fratmat.info/economie/fraude-sur-l-exportation-du-cacao-la-cote-d-ivoire-perd-2500-milliards-fcfa-en-24-ans
Photo: cocoa nuts/ credit Eric Freyssinge