Lagos: Sunbeth Global Concepts Limited, a leading Nigerian cocoa exporter, has announced plans to construct a 70,000-metric tonne cocoa processing factory and an 80,000-metric tonne cashew processing plant. The initiative aims to enhance agro-industrialization and value addition across Africa.
According to Ghana News Agency, the facilities are currently under construction in Sagamu, Ogun State, South-West Nigeria, and are expected to be operational by March 2027. Mr. Olasunkanmi Owoyemi, Managing Director of Sunbeth Global Concepts Limited, revealed the investment during the Africa Cocoa Finance and Investment Forum (ACFIF) held at the London Stock Exchange.
The investment is a part of Sunbeth's long-term strategy to strengthen Africa's agricultural value chains and to increase the continent's economic value derived from its commodities. The cocoa and cashew processing plants underscore Sunbeth's commitment to large-scale industrial processing and sustainable job creation.
Mr. Owoyemi stated that the cocoa processing facility would bolster Nigeria's standing in the global cocoa processing industry, while the cashew processing plant is set to meet the rising demand across West Africa and premium export markets in Europe, Asia, and the Americas. Sunbeth has transitioned from a trading enterprise to an integrated processing company focused on operational efficiency and sustainability.
He highlighted the importance of supply chain sustainability for the viability of the 70,000-metric tonne cocoa processing plant, emphasizing the need for vertical integration as a key component of the company's growth and sustainability strategy. Sunbeth plans to participate in backward integration by cultivating the necessary crops to supply the plants.
The company is also set to invest in farmer education, financing systems, logistics, and technology to enhance yields and support sustainable supply chains. The processing plant projects are part of Sunbeth's Orange Cocoa Sustainability Framework, which focuses on farmer training, quality improvement, and strategic partnerships within the cocoa sector.
Mr. Owoyemi stressed that sustainable processing capacity relies on dependable, high-quality domestic supply chains. Sunbeth currently operates in Nigeria, Ghana, and Cameroon, which are significant cocoa-producing countries in West Africa. The company has also established offices in London, Dubai, and New York to expand access to international markets, talent, and trade finance opportunities.
Sunbeth's long-term vision is for Africa to not only be a major producer of cocoa and cashew but also to process and trade these commodities, retaining the full economic benefits within the continent. The company's investments in processing infrastructure, research, vertical integration, and global market access aim to lay the groundwork for this future.