Dangote eyes 500,000-tonne cocoa deal in Ghana - Punch Newspapers
Nigerian industrialist Aliko Dangote is in discussions with the Ghanaian government over a proposed arrangement to process 500,000 metric tonnes of cocoa locally, Ghana’s Finance Minister, Dr Cassiel Ato Forson, has said. Forson disclosed this during an interview on PM Express, a current affairs programme on Ghanaian news channel Joy News, on Thursday, saying Dangote had personally contacted him and President John Dramani Mahama to express interest in making Ghana a hub for cocoa processing. The minister said the proposed deal could help Ghana achieve its ambition of processing more than half of its cocoa locally by 2028. “A major businessperson operating in the sub-region has reached out to me to sign a contract for 500,000 metric tonnes of cocoa value addition here in Ghana to process it locally in Ghana. “I think it would not hurt if I mentioned Dangote has reached out to use Ghana as a hub to process cocoa locally.Make PUNCH part of your everyday experience.Add us to your Preferred Sources “He reached out to me. He reached out to His Excellency the President. He’s ready to come to Ghana,” he said. Forson, however, said discussions were still ongoing, with the terms of the proposed arrangement yet to be concluded and a contract yet to be signed. The disclosure comes as Ghana steps up efforts to process more of its cocoa beans domestically rather than export them largely in their raw form. Russia dismisses military recruitment claims as Ukrainian propaganda Dangote urges Lotus to expand private sector financing Dangote sets sights on Egypt for industrial expansion Presenting the country’s 2027 budget to Parliament, Forson announced a target to process at least 50 per cent of Ghana’s cocoa locally by 2028 and increase the proportion to 100 per cent by 2030, Joy News reports. The plan is expected to expand domestic processing beyond grinding cocoa beans to the production of cocoa liquor, butter, cake, powder, chocolate, cosmetics and other finished products. The government’s broader commercial agriculture programme is expected to receive $3bn as part of a $10bn economic transformation agenda covering 2027 to 2030, according to the Ghana News Agency. Ghana’s proposed shift towards full local processing is intended to retain more of the income and industrial benefits generated by its cocoa industry, while creating opportunities for local businesses and workers. Dangote is the founder and president of Dangote Group, one of West Africa’s largest conglomerates, with interests in cement, sugar, fertiliser, food processing and oil refining. He began his business career trading commodities, including rice, sugar and cement, before expanding into manufacturing. His investments include Dangote Cement, which operates across several African countries, and the Dangote Petroleum Refinery in Lagos, which began processing crude oil in 2024. He is Africa’s richest man, according to Forbes’ billionaire rankings. Okiki Adeduyite Okiki is a journalist with over seven years experience covering politics, foreign news, society, entertainment and the film industry.
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