Former President John Agyekum Kufuor has urged Africa to aggressively move into chocolate production and other downstream sectors to secure more benefits from its leading role in cocoa cultivation.
Speaking as the keynote speaker at the inaugural Africa Cocoa Finance & Investment Forum (ACFIF 2026) at the London Stock Exchange, Mr Agyekum Kufuor emphasised that the continent should no longer be on the sidelines of the highest-value parts of the cocoa supply chain. He pointed out that although Africa grows roughly 70% of the world’s cocoa beans, it handles less than 20% of processing and under 2% of finished chocolate production – allowing most economic gains to occur overseas.
“The true economic value lies in chocolate manufacturing, branding, innovation, and long-term capital deployment,” he said, warning that the current structure leaves African producers with roughly 10% of the value chain.
Mr Agyekum Kufuor described the forum as a vital platform to tackle persistent structural gaps, uniting investors, policymakers, and industry stakeholders to attract funding and advance industrial growth throughout the cocoa sector.
Referencing Ghana’s experience, he cited previous policy measures that raised yields and processing capability, such as crop disease control initiatives, farmer pricing adjustments, and targeted support for domestic processing. Yet he maintained that Africa’s cocoa transformation now demands coordinated regional effort, built on sustained financing and large-scale industrial development.
He laid out four priority routes for establishing a stable cocoa economy by 2040, covering farmer prosperity and youth engagement, value addition and industrial expansion, capital access, climate resilience, and long-term investment.
“Africa must decisively expand into chocolate manufacturing, nutraceuticals, functional foods, and pharmaceutical applications. Cocoa’s health benefits – rich in antioxidants and flavonoids – remain grossly under-exploited, despite growing global demand.
“The third pathway is Capital, Climate, and Long-Term Investment, which is perhaps the most significant gap in Africa’s cocoa sector to achieve sustainability.
Addressing climate risk, industrial scaling, and job creation will not be possible without financing structures that reflect the biological realities of the times, including carbon-capture finance and the long timelines of manufacturing.
“Short-term financing cycles are fundamentally incompatible with cocoa’s production cycle and with the infrastructure investments required for processing and manufacturing,” Mr Agyekum Kufuor stated.
The former president called on investors and private sector actors to turn ACFIF discussions into viable projects, positioning cocoa as a catalyst for industrialization and inclusive economic growth across Africa.
