IFC and Société Générale Ghana Partner to Support Ghana’s Cocoa Sector

Accra, Ghana, June 20, 2025 — IFC today announced a partnership with Société Générale Ghana Plc, a leading Ghanian bank, to increase access to finance in Ghana’s cocoa sector, support sustainable production, and improve market access for tens of thousands of smallholder farmers.

Under the partnership, IFC will provide a local currency loan of up to $40 million equivalent through an unfunded risk-sharing facility to Société Générale (SG) Ghana. The facility is expected to support up to $80 million equivalent in financing to enable licensed buying companies (LBCs) to purchase cocoa beans directly from smallholder farmers.

In addition to the financing component, IFC aims to provide advisory services and capacity building to SG Ghana to enhance traceability, promote sustainable sourcing practices, and address deforestation risks in the cocoa value chain. IFC’s support will build resilience by improving cash flow for farmers and LBCs, strengthening market linkages, and promoting environmentally sound practices that ensure long-term viability of cocoa farming in Ghana.

Ghana’s cocoa sector plays a critical role in the country’s economy, contributing about 6 percent of GDP and supporting the livelihoods of an estimated 30 percent of the rural population. However, the sector faces increasing challenges, including limited access to finance and declining productivity.

 “This partnership underscores IFC’s recognition of SG Ghana’s commitment to financing the real economy of Ghana and cocoa in particular. It is also a testament to the long-standing relationship between Ghana Cocobod and Société Générale as a Group,” said Hakim Ouzzani, Managing Director of Société Générale Ghana. “As the funding of the cocoa industry evolves in Ghana, SG and IFC believe that this commitment will assist in increasing the capability of LBCs to continue procuring cocoa locally in a sustainable and impactful manner.”

"This partnership with Société Générale Ghana is an important step in addressing one of the cocoa sector’s biggest barriers, access to finance. It reflects IFC’s commitment to building resilient value chains that benefit farmers, strengthen local markets, and support sustainable growth,” said Kyle Kelhofer, IFC Senior Country Manager for Ghana. “Investments in sectors like agriculture are essential to driving jobs, exports, and long-term economic stability."

Over four years, the facility is expected to enable up to $320 million in cocoa trade and benefit an estimated 75,000 smallholder farmers by improving their access to markets, inputs, and technical expertise. This investment supports the purchase of Rainforest Alliance certified cocoa, contributes to environmental sustainability, and helps reduce deforestation risks.

Rainforest Alliance certified cocoa is produced according to rigorous environmental, social, and economic standards aimed at conserving biodiversity, improving livelihoods, ensuring sustainable land use, and advancing the human rights of farmers and workers.

IFC and Société Générale Ghana have partnered since 2020, with IFC providing approximately $75 million in local currency financing to support the bank’s lending to small and medium-sized enterprises across Ghana.