FG intervention crucial to reviving cocoa industry — CapitalSage CEO

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CapitalSage Holdings is a business conglomerate with business interests in finance, health and agriculture. We have over 15 different subsidiaries. We have businesses across all the states in Nigeria, and we are also present in five African countries — Ghana, Gambia, Kenya, Cameroon and Togo.

As a company, what exactly have you done to address some of these issues that you have mentioned?

For people to invest in value addition, there have to be some incentives. Power is very expensive. Most factories run on diesel. So, many factories have closed down because of the cost of power. Secondly, the Federal Government needs to support cocoa plantations. We have seen different Anchor Borrower schemes for different groups. If such a gesture is extended to cocoa, then, problems like land and access to finance for farmers would be addressed at a much more national scale.

One mistake we have always been making is that when people talk about tech, the first thing we think about is finance. There are different sectors in tech. We have the social media space. We have the finance space. Even for finance, it is quite broad. We have crypto finance and regulated finance. If you look at social media, the likes of Facebook and Twitter are laying off. A few of the finance leaders are also laying off.

 

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