West African countries of Cameroon, Nigeria, Ghana and Ivory Coast have recently signed an agreement, which they have dubbed the “Abuja Declaration,” officially creating the “Cocoa Value Addition Alliance.”

The four countries together represent over two-thirds of the world’s global cocoa production. At the recent Cocoa Value Addition Summit 2026, in Abuja, Nigeria, they declared that establishing this new agreement has the potential to coordinate policies, promote local cocoa processing, bring production standards into harmony, and strengthen the continent of  Africa’s bargaining power in the global cocoa industry.

Cocoa is a seed from the Theobroma Cacao Tree and is the primary or essential raw material in the making of chocolate. According to confectioneryproduction.com, the world’s demand for chocolate has developed into a $150 billion industry

“with African countries supplying over 70% of the cocoa for it—yet its farming communities reportedly gain no more than between 5-10% of that overall value, due to the longstanding supply chain system that has seen the majority of profits returned to largely European-based processing facilities and corporations.”

“Value added” is simply the addition given to raw material by processing it before selling it abroad. In Walter Rodney’s book, “How Europe Underdeveloped Africa,” he explains how Europeans and Americans have a history of undervaluing Africa’s substantial mineral wealth by exporting raw material and processing it abroad.

This is the ultimate form of exploitation, and the primary hallmark of the capitalist imperialist economic system, Dr. Rodney points out. Throughout the book, one of Dr. Rodney’s main arguments is that through this exploitation, Africa developed Europe at the same rate that Europe underdeveloped Africa.

Perhaps this agreement between Cameroon, Nigeria, Ghana and Ivory Coast will be a step toward the West African nation breaking off this European and American exploitation.

According to Nigeria’s Punch Newspaper, in speaking in advance of the July 14, Cocoa Value Addition Summit, Senator John Owan Enoh, who is the Minister of State for Industry in Nigeria, said African cocoa-producing countries were determined to change a century-old trade model that has left producing nations with little economic value despite supplying most of the world’s cocoa.

“For a hundred years, Africa has sent its cocoa to the world in sacks and received it back in wrappers, paying at both ends of the transaction,” said Senator Enoh, the outlet reported.

“The distance between a bean and a brand is measured in jobs and in dignity, and on July 14, in Abuja, four nations begin closing that distance together. We do not gather to lament the market. We gather to redesign our place in it,” the senator who is also a cocoa farmer said.

During the summit sponsored by the Nigerian government, the country’s president, Bola Ahmed Tinubu, unveiled a “far-reaching” plan designed to enhance the country and wider regions of cocoa production to retain a greater share of its overall commercial value, noted confectioneryproduction.com.

The president was represented at the summit by his Minister of Agriculture, Abubakar Kyari. The theme of the summit was “From Bean to Brand: The Bean in My Hand, The Brand in Our Future.” 

The Federal Ministry of Agriculture and Food Security noted that Kyari pointed out that “Nigeria is shifting from exporting raw cocoa to processing it domestically, to create jobs, attract investments and earn more foreign exchange from (the) cocoa sub-sector.”

He added that “Seven of every ten cocoa pods on this earth ripen under the African sun. They are grown by African hands-on African soil with African knowledge passed down through generations, and yet of a global chocolate economy now valued at well over $130 billion and by some recent estimates approaching $165 billion,’’ reported Agriculture.gov.ng.

“We will grind our beans at home, we will press our butter at home, we will make our chocolate at home, brand it at home and sell it to the world on our own terms.’’ 

During the summit, participants received updates on the construction of what is expected to become Nigeria’s largest cocoa processing facility, a 70,000-metric-ton processing plant being developed by Sunbeth Global Concepts in Sagamu, Ogun State, which is scheduled for commissioning in 2027.

In addition, the Ghanaian news site Pulse reported that the country is set to join Côte d’Ivoire, Nigeria and Cameroon in a landmark agreement aimed at transforming Africa’s cocoa industry by increasing local processing, strengthening the continent’s bargaining power and reducing its dependence on exporting raw cocoa beans.

According to Brandspur Brand News, “Nigeria will also sign a separate Cocoa Value Addition Accord with cocoa-producing state governments, farmers’ associations, processors, researchers and development finance institutions.

The agreement is expected to drive investment across the cocoa value chain, expand domestic processing capacity and improve earnings for cocoa farmers through coordinated implementation.”

Later this year on October 7-8, Nigeria will host the Africa Cocoa and Coffee Conference. It will convene an unprecedented assembly of cocoa and coffee stakeholders across the full value chains—farmers, cooperatives, processors, roasters, exporters, researchers, policymakers, development finance institutions, and multilateral organizations—to drive concrete action on the most urgent challenges and opportunities facing Africa’s cocoa and coffee sectors.

The conference is presented by the Cocoa and Coffee Farmers Alliance Association of Africa (COCEFAAA) in partnership with the Federal Ministry of  Agriculture and the Cocoa Research Institute of Nigeria.

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