Yaoundé - 29 November 2023 -

Govt to support cocoa, coffee producers with CFA6.5bln in 2023

Govt to support cocoa, coffee producers with CFA6.5bln in 2023
  • Comments   -   Thursday, 27 April 2023 03:25

(Business in Cameroon) - The Cameroonian government announced a subsidy of CFA6.5 billion to support local cocoa and coffee producers in 2023. The funds will be channeled through the Cocoa and Coffee Development Fund (FODECC), we learned.

According to available information, CFA5.2 billion will be allocated to cocoa producers and CFA1.3 billion to coffee farmers. The program will benefit the about 28,000 producers already registered. It is part of a mechanism launched in 2021 by the government to allow cocoa/coffee producers in the country to directly access subsidies.

The government seeks to inject CFA50 billion into the cocoa-coffee sector in 5 years. However, beneficiaries are required to be able to co-finance agricultural investment and use digital technology. “The producer is the main player here. He is the one who triggers the process by mobilizing his majority share of 60 to 70%,” Fodecc explained, stressing that cash transfer is made via bank deposit or mobile money (Orange Money, Mobile Money, YUP, Express Union mobile).

The subsidies are divided into three categories. The first concerns agricultural inputs, including fertilizers, seeds, seedlings and plant protection products. It is open to all cocoa and coffee producers without particular conditions.

The second and third categories are for agricultural equipment and machinery, and production support infrastructure. They require a different form of organization and slightly more important conditions, including the presentation of a business plan.

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