January 10, 2025 • 15 mins
'Detty December' is a phrase which refers to the annual pilgrimage of tourists and diasporans to Nigeria and Ghana during the festive period. It's a movement which has attracted global attention this year as thousands, including international celebrities, flocked to the region to soak up the sun and celebrations. 2024's revelry though has been set against a difficult economic backdrop of rising inflation and depreciating currency. Bloomberg's Tiwa Adebayo who recently returned from Lagos tells Jennifer Zabasajja why some locals aren't sharing in the jubilation.
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Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:08):
Going home for the holidays can be more than just
about seeing your family. It can be about finding your roots.
Speaker 1 (00:14):
For some that connection that's wherever it leaves that person
you know who have been struggling of years to know
where do I come from? Why am I of Thescala?
Where could my great great grandparents have come from?
Speaker 2 (00:30):
But it can also be an excuse for many to
have fun. What's known as Debty December has grown into
a huge party, with many traveling from all over the world,
bringing money and boosting some local economies.
Speaker 1 (00:44):
And to to leg city to Lega city.
Speaker 2 (00:53):
On today's episode of The Next Africa Podcast, we'll ask
whether the Big December event is giving struggling economies and
places like Nigeria and Ghana the boost they actually need,
or just making things tougher for locals who won't see
the benefits when the party's over. I'm Jennifer Zaba Saja
(01:15):
and this is the Next Africa Podcast, bringing you one
story each week from the continent driving the future of
global growth with the context only Bloomberg can provide. Joining
us this week is Bloomberg's tiwa Adebayo, who has spent
much of this past December in Nigeria and has done
quite a bit of reporting on this. She's joining us now, Tia,
(01:37):
Happy New Year to you, so talk to us about
what exactly debty December is and what you saw when
you were in Legos.
Speaker 3 (01:46):
Wow, as the legend has it, debty December, that's dee
tty by the way. As a phenomenon, it started back
in twenty sixteen when if the singer missed the Easy
he used the phrase to refer to one of his
concerts on a hashtag and social media and since then
the meaning of the phrase has really metamorphosized. I mean
(02:07):
it now refers really to a time of year when
a large volume of diasporans and other visitors descend on
African cities, particularly Akra and Ghana and Lagos in Nigeria,
and they come to see family, to catch up with friends,
and crucially to party a lot of the time. But
what struck me about Lagos this year was the real
(02:30):
presence of non diaspora Nigerians. So there was even a
host of celebrities international artists like Sweety Chloe Bailey for example.
It seems to have become this real cultural moment which
has gone from people simply coming back home to see
their families to a huge tourist destination being created out
(02:51):
of cities like Legos and Akra and a huge time
of celebration of cultural innovation and of course provide perhaps
an economic boost to these cities too.
Speaker 2 (03:03):
And TA talk about where we're seeing the biggest influx
or where we did see the biggest influx this past
holiday season. You mentioned the economic benefits. What sort of
numbers are we talking about here if you can quantify
it for us.
Speaker 3 (03:16):
Well, I mean it's been focused really around cities like
Legos Nicra.
Speaker 4 (03:20):
However, actually yesterday I was.
Speaker 3 (03:22):
Speaking to the Honorable Commissioner for Arts, Culture, Tourism and
Diaspora Affairs in Edo State, Nigeria. That's doctor Uyi Dua
Malacca and her state is in southern Nigeria actually, and
she told me that they too have seen increased number
of visitors, so it's perhaps not just all about the
cities at the moment. They've particularly seen increased visits to
(03:45):
cultural sites like their newly completed Museum of West African
Art in Benin City. In terms of the numbers, we're
still awaiting the official stats for twenty twenty four, but
all of the indicators so far to this year having
been the biggest yet in terms of dirty December.
Speaker 4 (04:04):
Here's what she said to me. Statistics and readily available,
but I can tell you for Freeda at tim about
twenty twenty three.
Speaker 5 (04:14):
My Koda's Economy GDP had it about fopising boosts from
dirty tom by activities and twenty twenty four was even bigger.
Speaker 3 (04:22):
And just to give you a bit of a flavor
of what that means, if you look back at twenty
twenty three, the official statistics show that Legos, just Legos
alone welcomed one point two million tourists, and experts forecast
of fifteen percent surge from that number in twenty twenty four.
So it's a significant number of people. And there have
(04:43):
also been some adjustments made which would perhaps point to
there being more tourists. And that's because some of the
governments in Ghana, for example, are actually making things easier
for tourists that they're trying to entice them. So this
year in gard from the first of December twenty twenty
four right up until January fifteenth, twenty twenty five, tourists
(05:07):
are able to enter without the need for visa pre approval,
and that's really been done as part of an effort
to make the overall process of travel to Ghana easier.
They know that December is a hot spot, is a
time when a lot of tourists want to come and
visit Garana from all over the world, and they want
to make that as easy as possible.
Speaker 4 (05:27):
They want to welcome as many tourists as possible.
Speaker 3 (05:30):
And that initiative in Ghana is part of something called
Beyond the Return, which is linked to the famous Year
of Return twenty nineteen initiative, which sort of tried to
celebrate the historic links between Africa and its daspora, inviting
a lot of Black Americans, for example, to come to
Gharna and discover their roots, and some were even given citizenship.
Speaker 2 (05:53):
And I remember when the Year of Return really took off,
when I was back in the States. It was really
a moment for people. We were mentioning going back to
your roots. When we talk about today though, and what
happens in dirty December, what sort of things do people do.
You were mentioning museums and memorials, I mean, how do
(06:13):
you make the most out of the time there what
did you do, Tuua?
Speaker 3 (06:18):
Well, there are lots of things to do, and I
think that's what people are realizing. It's not just about
the partying, which has perhaps been the narrative that's been
spread about Dirty December in previous years. I think what's
been really interesting this year is the cultural benefits that
have come from so many tourists coming to Nigerian Ghana,
(06:42):
but also the attention in the cultural zeitgeist that's been
placed on these countries. So artists, especially in Nigerian and
Ghani and artists are using this opportunity not just to
perform to new audiences physically, but also they're making the
most of the attention that's being placed on them globally,
(07:03):
and they're using that opportunity to perhaps launch new artistic
projects because they know that December is a time not
just when people visit their countries, but when people pay
attention to their countries online. You will have heard at
the beginning of the podcast a song about Lagos called
come to Eco. It's by Nigerian duo Oiza and May
(07:25):
and I spoke to them a bit about this song
that they have, which talks about legos and everything that
there is to offer in the bustling city, and they
said to me that they actually chose to release the
song close to December to capitalize on that sort of
cultural opportunity.
Speaker 5 (07:42):
So December is a really really good time. There's a
lot of shows, a lot of activities, and they are
looking for a lot of artists upcoming, big middle class artists. Everybody,
as far as you're in the musical or entertainment space.
Speaker 4 (07:55):
This is a Greek time.
Speaker 3 (07:56):
So really everyone is trying to take advantage of the
debty December phenomenon, and even the government, for example in Nigeria,
they're also trying to capitalize on the attention in an
economic sense. So there's something called the Nigerian Interbank Settlement
System which has been introduced from December twenty twenty four,
(08:17):
and that means that there'll be a non resident bank
verification number platform. And what all that means is that
it's going to be much easier for Nigerians living outside
of the country to manage their local bank accounts and
conduct business. And officials when they're talking about this policy,
they've said it's to ensure that Nigerians, regardless of their location,
(08:38):
can engage seamlessly with the economy and expand their business opportunities.
And it's no coincidence that that initiative was started in
December twenty twenty four. So what we can see is
the government really trying to take advantage of this economic opportunity.
Speaker 2 (08:55):
Stick with us to because it's not our winners involved.
When we come back, we'll talk about why not everyone's
happy with Dirty December. Will be right back, Welcome back today.
On the podcast, we're talking about Dirty December and how
cities in West Africa encourage the diaspora to come home
(09:18):
for Christmas and for the holidays. Tia Atebaio is still
with us, so talk about some of the downsides that
people have been alluding to when it relates to Dirty December.
Speaker 3 (09:29):
Well, this year, Dirty December has been quite the controversial
topic online as well.
Speaker 4 (09:36):
There's been a.
Speaker 3 (09:37):
Huge discourse really between the people that live in these
countries full time, in Akra and in Lagos and people
that they're calling IJGBS or I just got back, So
that's the term for parts of the diaspora that come
seasonally to these cities and some people aren't happy. They
(09:58):
say the country's infrastructure can't handle the influx of tourists.
There's been huge problems with traffic, especially in Lagos, and
they say that people with their foreign currencies are also
driving up the prices of goods, making them even more
unaffordable for local residents. And that's something that's been very
prevalent on social media. Here are some clips of what
(10:20):
people had to say, IgGs to go because why there's
so much affric on the island.
Speaker 5 (10:25):
I couldn't even make it.
Speaker 1 (10:28):
To my plans like this.
Speaker 2 (10:29):
Ers are just like, oh God.
Speaker 3 (10:32):
Everybody that is coming to Nigeria is going to Legos, Legos.
Speaker 2 (10:36):
There is module of Nigeria.
Speaker 4 (10:38):
Prices are increasing like crazy.
Speaker 3 (10:39):
And so really we can't talk about the economics of
Debty December without mentioning the context. Using Nigeria for an example,
the Nayra hit record lows in twenty twenty four. Inflation
was at a twenty eight year high of thirty four
point six percent in December twenty twenty four, and drilling
into that far food inflation. Food is really a core
(11:02):
part of Derty December, with many tourists going out to
eat at local restaurants, but looking at that picture, for
local residents, food inflation quickened to thirty nine point nine
percent in November.
Speaker 4 (11:14):
So that's the backdrop that we're working with. But in
Lagos in.
Speaker 3 (11:18):
Particular, actually, something that I noticed whilst I was there
is that perhaps the trickle down economics of dirty December
isn't really playing out how many people think it should
or would like it to in a geographic sense. So
Lagos is really split into the mainland and then Lagos Island,
which is typically more affluent, and that's really where a
(11:41):
lot of the tourists have been concentrated, where most of
the bars and clubs and restaurants and theaters are that
have been really popular over the month of December.
Speaker 4 (11:52):
And just being there over that period you can see.
Speaker 3 (11:54):
Really a price difference between those two places. Things on
the mainland often very much cheaper than on the island,
where prices are being driven up. So if all that
foreign currency and all that economic power coming in is
being concentrated on the island, you have to wonder are
the locals really benefiting from this?
Speaker 2 (12:16):
See when we talk about support from the diaspora in America,
across Europe, in the UK, is anyone on social or
on any of the officials that you've spoken with have
suggestions for what support could look like.
Speaker 3 (12:33):
Well, when I was speaking to someone that works a
lot with their diasper, that's the Honorable Commissioner for Arts, Culture,
Tourism and also Diaspora Affairs in Edo State.
Speaker 4 (12:45):
She told me that the diasper is a key pillar
for her work.
Speaker 3 (12:49):
She's been able to reach out to people in the US,
in the UK for example, to help fund the work
that she's doing in the state, and that's something that
she's says to me she really wants to continue to
do going forward, not just around December. They're also trying
to build other touch points around the year, particularly in Easter.
(13:11):
There's also due to be Lagos Fashion Week celebrations, so
they're trying to make this a more regular thing and
keep that line of communication open with the diaspara. And
I think that's also evidenced by policies such as making
it easier to manage your bank account in Lagos remotely
or in Nigeria remotely if you're in the diaspora. So
(13:31):
there are things like that that the government is trying
to make easier to try and make that process and
that link, that bridge between the diaspora and Nigeria smoother
and it's definitely something will probably continue to see going
forward in twenty twenty five.
Speaker 2 (13:48):
Thank you so much for joining us and bringing us
the story and you're reporting. Great to get you on.
That's Tua Adebayo. Here's some other stories we've been following
across the region this week. M twenty three rebels appear
to be planning a long term occupation of mineral rich
territories in Eastern Democratic Republic of Congo. United Nations experts warned,
(14:12):
and a report released Wednesday, since April m twenty three
has been seizing Congolese towns with the help of Rwandan
forces and setting up parallel government administrations to control key
minds and trade routes. That's what the report said. Rwanda
denies supporting the rebels and says it's committed to a
ceasefire and peace talks with Congo. Also, Hershet's company is
(14:38):
asking the US's top derivatives regulator for permission to buy
a huge amount of coco through the New York Exchange
after global shortages sent prices to a record that's according
to people familiar with the matter. The move comes as
the global market is forecast to face a fourth year
of supply shortages after the spread of disease and poor
(15:00):
weather hurt crops in the Ivory Coast and Ghanam, which
usually account for more than sixty percent of global supplies.
Prices have already broken record after record, prompting Hershey's chief
financial officer to warn that the company would face higher
cocoa costs this year. And you can follow these stories
across Bloomberg, including the next African Newsletter. We'll put a
(15:24):
link to that in the show notes. This program was
produced by Adrian Bradley. Don't forget to follow and review
the show wherever you usually get your podcasts. I'm Jennifer
Zaba Saja. Thank you for listening.
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:08):
Going home for the holidays can be more than just
about seeing your family. It can be about finding your roots.
Speaker 1 (00:14):
For some that connection that's wherever it leaves that person
you know who have been struggling of years to know
where do I come from? Why am I of Thescala?
Where could my great great grandparents have come from?
Speaker 2 (00:30):
But it can also be an excuse for many to
have fun. What's known as Debty December has grown into
a huge party, with many traveling from all over the world,
bringing money and boosting some local economies.
Speaker 1 (00:44):
And to to leg city to Lega city.
Speaker 2 (00:53):
On today's episode of The Next Africa Podcast, we'll ask
whether the Big December event is giving struggling economies and
places like Nigeria and Ghana the boost they actually need,
or just making things tougher for locals who won't see
the benefits when the party's over. I'm Jennifer Zaba Saja
(01:15):
and this is the Next Africa Podcast, bringing you one
story each week from the continent driving the future of
global growth with the context only Bloomberg can provide. Joining
us this week is Bloomberg's tiwa Adebayo, who has spent
much of this past December in Nigeria and has done
quite a bit of reporting on this. She's joining us now, Tia,
(01:37):
Happy New Year to you, so talk to us about
what exactly debty December is and what you saw when
you were in Legos.
Speaker 3 (01:46):
Wow, as the legend has it, debty December, that's dee
tty by the way. As a phenomenon, it started back
in twenty sixteen when if the singer missed the Easy
he used the phrase to refer to one of his
concerts on a hashtag and social media and since then
the meaning of the phrase has really metamorphosized. I mean
(02:07):
it now refers really to a time of year when
a large volume of diasporans and other visitors descend on
African cities, particularly Akra and Ghana and Lagos in Nigeria,
and they come to see family, to catch up with friends,
and crucially to party a lot of the time. But
what struck me about Lagos this year was the real
(02:30):
presence of non diaspora Nigerians. So there was even a
host of celebrities international artists like Sweety Chloe Bailey for example.
It seems to have become this real cultural moment which
has gone from people simply coming back home to see
their families to a huge tourist destination being created out
(02:51):
of cities like Legos and Akra and a huge time
of celebration of cultural innovation and of course provide perhaps
an economic boost to these cities too.
Speaker 2 (03:03):
And TA talk about where we're seeing the biggest influx
or where we did see the biggest influx this past
holiday season. You mentioned the economic benefits. What sort of
numbers are we talking about here if you can quantify
it for us.
Speaker 3 (03:16):
Well, I mean it's been focused really around cities like
Legos Nicra.
Speaker 4 (03:20):
However, actually yesterday I was.
Speaker 3 (03:22):
Speaking to the Honorable Commissioner for Arts, Culture, Tourism and
Diaspora Affairs in Edo State, Nigeria. That's doctor Uyi Dua
Malacca and her state is in southern Nigeria actually, and
she told me that they too have seen increased number
of visitors, so it's perhaps not just all about the
cities at the moment. They've particularly seen increased visits to
(03:45):
cultural sites like their newly completed Museum of West African
Art in Benin City. In terms of the numbers, we're
still awaiting the official stats for twenty twenty four, but
all of the indicators so far to this year having
been the biggest yet in terms of dirty December.
Speaker 4 (04:04):
Here's what she said to me. Statistics and readily available,
but I can tell you for Freeda at tim about
twenty twenty three.
Speaker 5 (04:14):
My Koda's Economy GDP had it about fopising boosts from
dirty tom by activities and twenty twenty four was even bigger.
Speaker 3 (04:22):
And just to give you a bit of a flavor
of what that means, if you look back at twenty
twenty three, the official statistics show that Legos, just Legos
alone welcomed one point two million tourists, and experts forecast
of fifteen percent surge from that number in twenty twenty four.
So it's a significant number of people. And there have
(04:43):
also been some adjustments made which would perhaps point to
there being more tourists. And that's because some of the
governments in Ghana, for example, are actually making things easier
for tourists that they're trying to entice them. So this
year in gard from the first of December twenty twenty
four right up until January fifteenth, twenty twenty five, tourists
(05:07):
are able to enter without the need for visa pre approval,
and that's really been done as part of an effort
to make the overall process of travel to Ghana easier.
They know that December is a hot spot, is a
time when a lot of tourists want to come and
visit Garana from all over the world, and they want
to make that as easy as possible.
Speaker 4 (05:27):
They want to welcome as many tourists as possible.
Speaker 3 (05:30):
And that initiative in Ghana is part of something called
Beyond the Return, which is linked to the famous Year
of Return twenty nineteen initiative, which sort of tried to
celebrate the historic links between Africa and its daspora, inviting
a lot of Black Americans, for example, to come to
Gharna and discover their roots, and some were even given citizenship.
Speaker 2 (05:53):
And I remember when the Year of Return really took off,
when I was back in the States. It was really
a moment for people. We were mentioning going back to
your roots. When we talk about today though, and what
happens in dirty December, what sort of things do people do.
You were mentioning museums and memorials, I mean, how do
(06:13):
you make the most out of the time there what
did you do, Tuua?
Speaker 3 (06:18):
Well, there are lots of things to do, and I
think that's what people are realizing. It's not just about
the partying, which has perhaps been the narrative that's been
spread about Dirty December in previous years. I think what's
been really interesting this year is the cultural benefits that
have come from so many tourists coming to Nigerian Ghana,
(06:42):
but also the attention in the cultural zeitgeist that's been
placed on these countries. So artists, especially in Nigerian and
Ghani and artists are using this opportunity not just to
perform to new audiences physically, but also they're making the
most of the attention that's being placed on them globally,
(07:03):
and they're using that opportunity to perhaps launch new artistic
projects because they know that December is a time not
just when people visit their countries, but when people pay
attention to their countries online. You will have heard at
the beginning of the podcast a song about Lagos called
come to Eco. It's by Nigerian duo Oiza and May
(07:25):
and I spoke to them a bit about this song
that they have, which talks about legos and everything that
there is to offer in the bustling city, and they
said to me that they actually chose to release the
song close to December to capitalize on that sort of
cultural opportunity.
Speaker 5 (07:42):
So December is a really really good time. There's a
lot of shows, a lot of activities, and they are
looking for a lot of artists upcoming, big middle class artists. Everybody,
as far as you're in the musical or entertainment space.
Speaker 4 (07:55):
This is a Greek time.
Speaker 3 (07:56):
So really everyone is trying to take advantage of the
debty December phenomenon, and even the government, for example in Nigeria,
they're also trying to capitalize on the attention in an
economic sense. So there's something called the Nigerian Interbank Settlement
System which has been introduced from December twenty twenty four,
(08:17):
and that means that there'll be a non resident bank
verification number platform. And what all that means is that
it's going to be much easier for Nigerians living outside
of the country to manage their local bank accounts and
conduct business. And officials when they're talking about this policy,
they've said it's to ensure that Nigerians, regardless of their location,
(08:38):
can engage seamlessly with the economy and expand their business opportunities.
And it's no coincidence that that initiative was started in
December twenty twenty four. So what we can see is
the government really trying to take advantage of this economic opportunity.
Speaker 2 (08:55):
Stick with us to because it's not our winners involved.
When we come back, we'll talk about why not everyone's
happy with Dirty December. Will be right back, Welcome back today.
On the podcast, we're talking about Dirty December and how
cities in West Africa encourage the diaspora to come home
(09:18):
for Christmas and for the holidays. Tia Atebaio is still
with us, so talk about some of the downsides that
people have been alluding to when it relates to Dirty December.
Speaker 3 (09:29):
Well, this year, Dirty December has been quite the controversial
topic online as well.
Speaker 4 (09:36):
There's been a.
Speaker 3 (09:37):
Huge discourse really between the people that live in these
countries full time, in Akra and in Lagos and people
that they're calling IJGBS or I just got back, So
that's the term for parts of the diaspora that come
seasonally to these cities and some people aren't happy. They
(09:58):
say the country's infrastructure can't handle the influx of tourists.
There's been huge problems with traffic, especially in Lagos, and
they say that people with their foreign currencies are also
driving up the prices of goods, making them even more
unaffordable for local residents. And that's something that's been very
prevalent on social media. Here are some clips of what
(10:20):
people had to say, IgGs to go because why there's
so much affric on the island.
Speaker 5 (10:25):
I couldn't even make it.
Speaker 1 (10:28):
To my plans like this.
Speaker 2 (10:29):
Ers are just like, oh God.
Speaker 3 (10:32):
Everybody that is coming to Nigeria is going to Legos, Legos.
Speaker 2 (10:36):
There is module of Nigeria.
Speaker 4 (10:38):
Prices are increasing like crazy.
Speaker 3 (10:39):
And so really we can't talk about the economics of
Debty December without mentioning the context. Using Nigeria for an example,
the Nayra hit record lows in twenty twenty four. Inflation
was at a twenty eight year high of thirty four
point six percent in December twenty twenty four, and drilling
into that far food inflation. Food is really a core
(11:02):
part of Derty December, with many tourists going out to
eat at local restaurants, but looking at that picture, for
local residents, food inflation quickened to thirty nine point nine
percent in November.
Speaker 4 (11:14):
So that's the backdrop that we're working with. But in
Lagos in.
Speaker 3 (11:18):
Particular, actually, something that I noticed whilst I was there
is that perhaps the trickle down economics of dirty December
isn't really playing out how many people think it should
or would like it to in a geographic sense. So
Lagos is really split into the mainland and then Lagos Island,
which is typically more affluent, and that's really where a
(11:41):
lot of the tourists have been concentrated, where most of
the bars and clubs and restaurants and theaters are that
have been really popular over the month of December.
Speaker 4 (11:52):
And just being there over that period you can see.
Speaker 3 (11:54):
Really a price difference between those two places. Things on
the mainland often very much cheaper than on the island,
where prices are being driven up. So if all that
foreign currency and all that economic power coming in is
being concentrated on the island, you have to wonder are
the locals really benefiting from this?
Speaker 2 (12:16):
See when we talk about support from the diaspora in America,
across Europe, in the UK, is anyone on social or
on any of the officials that you've spoken with have
suggestions for what support could look like.
Speaker 3 (12:33):
Well, when I was speaking to someone that works a
lot with their diasper, that's the Honorable Commissioner for Arts, Culture,
Tourism and also Diaspora Affairs in Edo State.
Speaker 4 (12:45):
She told me that the diasper is a key pillar
for her work.
Speaker 3 (12:49):
She's been able to reach out to people in the US,
in the UK for example, to help fund the work
that she's doing in the state, and that's something that
she's says to me she really wants to continue to
do going forward, not just around December. They're also trying
to build other touch points around the year, particularly in Easter.
(13:11):
There's also due to be Lagos Fashion Week celebrations, so
they're trying to make this a more regular thing and
keep that line of communication open with the diaspara. And
I think that's also evidenced by policies such as making
it easier to manage your bank account in Lagos remotely
or in Nigeria remotely if you're in the diaspora. So
(13:31):
there are things like that that the government is trying
to make easier to try and make that process and
that link, that bridge between the diaspora and Nigeria smoother
and it's definitely something will probably continue to see going
forward in twenty twenty five.
Speaker 2 (13:48):
Thank you so much for joining us and bringing us
the story and you're reporting. Great to get you on.
That's Tua Adebayo. Here's some other stories we've been following
across the region this week. M twenty three rebels appear
to be planning a long term occupation of mineral rich
territories in Eastern Democratic Republic of Congo. United Nations experts warned,
(14:12):
and a report released Wednesday, since April m twenty three
has been seizing Congolese towns with the help of Rwandan
forces and setting up parallel government administrations to control key
minds and trade routes. That's what the report said. Rwanda
denies supporting the rebels and says it's committed to a
ceasefire and peace talks with Congo. Also, Hershet's company is
(14:38):
asking the US's top derivatives regulator for permission to buy
a huge amount of coco through the New York Exchange
after global shortages sent prices to a record that's according
to people familiar with the matter. The move comes as
the global market is forecast to face a fourth year
of supply shortages after the spread of disease and poor
(15:00):
weather hurt crops in the Ivory Coast and Ghanam, which
usually account for more than sixty percent of global supplies.
Prices have already broken record after record, prompting Hershey's chief
financial officer to warn that the company would face higher
cocoa costs this year. And you can follow these stories
across Bloomberg, including the next African Newsletter. We'll put a
(15:24):
link to that in the show notes. This program was
produced by Adrian Bradley. Don't forget to follow and review
the show wherever you usually get your podcasts. I'm Jennifer
Zaba Saja. Thank you for listening.
Host
Jennifer Zabasajja
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