The Inter-African Coffee Organization (IACO) has recently announced the establishment of a fund dedicated to the revival of coffee production on the continent. Called “African Coffee Facility” and endowed with an envelope of 150 millions of dollars (about 75 billion FCFA), the fund will be supported by the African Development Bank.
According to the secretary general of the OPCW, Frederic Kawuma, “the said fund should act as a catalyst, a dynamic for the revival of the African coffee sector and begin the process of recovery with the training of producers and cooperative groups” .
For the OPCW, African coffee production represents just over 12% of world production, far from the 25% it accumulated in the early 1990 years. According to data from the International Coffee Organization (ICO), African coffee production is declining year by year, leaving the field to Asia and Latin America.
According to the OPCW, the aid needs of coffee producing countries in Africa amount to 2,5 billion. “The OPCW needs 2,5 billion dollars to make the Member States profitable,” said Frederic Kawuma.
For now, “each member state must open credit lines with banks to address specific issues beyond this support fund,” said Mr Kawuma
It should be noted that these new ambitions of the OPCW will be led by Gabon, led by the organization for the coffee year 2017-2018 and succeeding Côte d’Ivoire.
With financial
