The future of Africa’s cocoa industry took centre stage at the maiden Africa Cocoa Finance & Investment Forum (ACFIF 2026), held at the London Stock Exchange, where global investors, policymakers and industry leaders gathered to push for bold reforms and long-term investment in the sector.
Delivering a keynote address remotely, former President John Agyekum Kufuor called for urgent structural change, describing Africa’s cocoa economy as rich in potential but deeply unbalanced. He noted that although the continent produces about 70% of the world’s cocoa, it earns less than 2% of the global chocolate market.
Former President John Agyekum Kufuor
“This must change,” Kufuor stressed, urging African nations to focus on industrialisation, value addition, and strategic investment to unlock real wealth from cocoa.
Drawing from Ghana’s experience, he highlighted past reforms that boosted production and improved farmer incomes, insisting cocoa must now be treated as a key economic asset—just like oil or gold. He outlined priorities including better incomes for farmers, youth involvement, expansion into chocolate production, and stronger regional cooperation under frameworks like the African Continental Free Trade Area.
The former Ghana’s president also warned that climate change poses a serious threat to cocoa production, citing rising temperatures, soil degradation and pest outbreaks as growing concerns.
Adding momentum to the discussions, the Chief Executive of the International Cocoa Organization (ICCO), Michel Arrion, backed calls for the creation of an African Cocoa Exchange, stressing that Africa must take control of cocoa pricing instead of relying on markets in London and New York.
“Africa should not remain a price taker,” Arrion said, pointing to recent price volatility as evidence of weaknesses in the global system. He proposed a warehouse receipt system to improve access to finance and bring transparency to cocoa trading.
Participants at the forum agreed that while the idea is promising, its success will depend on strong political will, active trading, and support from financial institutions across cocoa-producing countries.
Organisers of ACFIF 2026 described the forum as a major step forward, revealing strong investor interest and a pipeline of ready opportunities across the cocoa value chain. They announced plans to expand the initiative globally, with upcoming meetings in New York, Amsterdam, and major cocoa-producing cities in Africa.
In a final call to action, John Agyekum Kufuor urged stakeholders to set an ambitious but practical vision for the cocoa sector by 2040.
“With the right leadership and investment, cocoa can drive industrial growth, create jobs, and transform economies across Africa,” he said.
