Dangote Eyes Ghana Cocoa Market as Country Targets 100% Local Processing by 2030
- Aliko Dangote is in talks with the Ghanaian government to process 500,000 metric tonnes of cocoa locally
- Ghana aims to process at least 50% of its cocoa locally by 2028 and 100% by 2030
- The proposed deal is still under discussion, and both parties have yet to sign a formal agreement
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Nigerian billionaire businessman Aliko Dangote is in discussions with the Ghanaian government over a proposed deal to process 500,000 metric tonnes of cocoa locally, Ghana’s Finance Minister, Dr Cassiel Ato Forson, has disclosed.
Forson revealed this during an interview on Joy News’ current affairs programme, PM Express, on Thursday, saying Dangote had personally contacted him and President John Dramani Mahama about the proposal.
Source: UGC
According to the minister, the Nigerian industrialist is interested in establishing Ghana as a major hub for cocoa processing, a move that could support the country's ambition to increase local value addition.
Forson said the proposal could involve processing 500,000 tonnes of cocoa beans in Ghana, although negotiations are still ongoing.
“Dangote has reached out to use Ghana as a hub to process cocoa locally. He reached out to me. He reached out to His Excellency the President. He’s ready to come to Ghana,” the minister said.
He, however, clarified that both parties were yet to finalise the terms of the arrangement or sign a formal agreement.
Ghana targets 50% local cocoa processing by 2028
The proposed investment comes as Ghana intensifies efforts to reduce its dependence on exporting raw cocoa beans and expand domestic processing.
While presenting the country's 2027 budget to Parliament, Forson announced plans to process at least 50% of Ghana's cocoa locally by 2028, with the government targeting 100% local processing by 2030.
The initiative is expected to extend beyond grinding cocoa beans to manufacturing finished products, including cocoa liquor, butter, cake, powder, chocolate and cosmetics.
According to the Ghana News Agency, the government's broader commercial agriculture programme is expected to receive $3 billion under a $10 billion economic transformation agenda covering 2027 to 2030.
The strategy is designed to retain more economic value within Ghana, stimulate industrial development, create employment opportunities and strengthen local businesses.
What to know about Dangote's business empire
Dangote is the founder and president of Dangote Group, one of West Africa's largest conglomerates, with investments spanning cement, sugar, fertiliser, food processing and petroleum refining.
He started his business career trading commodities such as rice, sugar and cement before expanding into manufacturing and building a business empire with operations across several African countries.
Among his major investments is Dangote Cement, which has a presence in multiple African markets, and the Dangote Petroleum Refinery in Lagos, which commenced crude oil processing in 2024.
The industrialist is also ranked as Africa's richest man by Forbes, with business interests extending across several key sectors of the continent's economy.
Source: Legit.ng
