30
Sep
Data from the Bank of Ghana’s latest Summary of Economic and Financial Data reveal a worrying drop in export revenues, with cocoa earnings between January and August 2024 falling to $917 million, the lowest since 2018. This marks a sharp shortfall from the $1.6 billion earned during the same period last year—a $683 million gap that could severely impact the government’s efforts to stabilize the cedi. The decline extends a downward trend that has plagued the cocoa sector since its peak in 2021, when Ghana’s cocoa exports reached $2.1 billion. Revenues have dropped steadily, falling to $1.61 billion in 2022…