Financing Africa’s Cocoa Future: How Trade Banking and Value Addition Are Redefining Ghana’s Global Role

Ghana International Bank (GHIB) has named Chief Executive Officer of Niche Cocoa Industry Ltd., Mr. Edmund Poku as the recipient of its inaugural “Trader of the Year” award, in recognition of his leadership in African commodity trade banking and value-added cocoa processing.

The award was presented at the closing ceremony of CNVERGE ’25 and marks GHIB’s first attempt at institutionalizing recognition for businesses that successfully integrate trade finance with transformative industrial development.

A Shift in African Trade Banking

GHIB Chief Executive Officer Dean Adansi explained that the award goes beyond a personal accolade. “This inaugural award celebrates a business that exemplifies excellence in African trade banking while delivering tangible value addition to our continent’s commodity wealth. Mr. Poku and Niche Cocoa Industry demonstrate how sophisticated trade finance solutions can support transformative African businesses that compete successfully in global markets,” he said.

The emphasis reflects a growing recognition among financial institutions that African growth lies in supporting firms that move beyond raw commodity exports. The global cocoa industry is valued at about US$200 billion annually, yet West Africa—the source of nearly two-thirds of the world’s beans—captures less than US$10 billion of that value.

Niche Cocoa’s Growth Story

Since its founding in 2011, Niche Cocoa has become Ghana’s largest fully integrated processor, handling more than 600,000 metric tons annually and generating about US$120 million in revenues. Its operations span the full cocoa value chain, sourcing beans from around 30,000 farmers and employing more than 400 workers directly.

The company processes raw beans into cocoa liquor, butter, powder, and finished chocolate products for both domestic and international markets. Its products are exported to Europe, North America, and Asia, reinforcing Ghana’s positioning as more than just a source of raw cocoa beans.

In his acceptance remarks, Mr. Poku was quick to shift the spotlight. “This recognition is not just about Niche Cocoa; it is about the thousands of Ghanaian farmers, workers, and partners whose dedication makes it possible for African businesses to compete at the highest levels of global trade. Our journey proves that with the right vision, financing, and commitment to quality, Africa can capture far more value from its own resources,” he said.

The Role of Finance in Industrialisation

Behind the company’s rise lies a crucial factor: access to sophisticated trade finance instruments. Niche Cocoa’s integrated model requires constant foreign exchange management, letters of credit to guarantee international payments, and supply chain financing to ensure timely delivery across markets. GHIB’s award underscores the importance of banks that are able to provide these services in ways that suit the scale and complexity of African businesses.

The recognition also comes at a time of stress in the cocoa industry. A global supply deficit persists in 2024, with West African countries facing reduced yields from aging plantations, plant disease, and extreme weather. Yet the overall cocoa and chocolate market remains on a strong growth path, expected to expand from US$48 billion in 2024 to US$79 billion by 2033. For companies like Niche Cocoa, this presents both risks and opportunities.

Expanding Beyond Ghana

Niche Cocoa has also shown that African companies can become global players. In 2022, the company opened its first U.S. manufacturing facility in Franklin, Wisconsin, in partnership with Omanhene Cocoa Bean Company. This move, one of the largest African greenfield investments in the U.S. food and beverage sector, demonstrated the firm’s ambition to bring African value addition directly into international consumer markets.

Mr. Poku’s own career trajectory spans management consulting at PwC and investment banking at Goldman Sachs to leading Africa’s largest cocoa processing company symbolizes the type of leadership GHIB hopes to highlight through the new award.

Why the Award Matters

By honoring demonstrated achievements rather than future aspirations, GHIB is also positioning itself as a thought leader in African trade banking. The bank’s executives argue that the future of African industrialisation will depend on whether local banks can provide financial solutions robust enough to support globally competitive operations.

Chief Banking Officer Richard Agbenu, who moderated the ceremony, explained that the “Trader of the Year” initiative is designed to set benchmarks. “We are committed to recognizing African businesses that not only trade but transform. It is about creating role models in the market and showing what is possible when finance and vision come together,” he said.

The Bigger Picture for Ghana

For Ghana, the recognition adds weight to ongoing calls for deeper investment in value addition within the cocoa industry. The country remains the second-largest cocoa producer after Côte d’Ivoire, yet like its neighbour, most of its export earnings come from unprocessed beans. Niche Cocoa’s success offers a template for other firms, suggesting that the combination of trade banking and industrial strategy can create new revenue streams, jobs, and competitive advantage in global markets.

As Mr. Poku summed up at the ceremony: “If Africa is to change its place in the global economy, it must not only grow what the world consumes but also shape, package, and brand it. That is what this journey is about.”

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