In this interview with BusinessDay’s Wasiu Alli, Oyinkansola Owoyemi, sustainability director at Sunbeth Global Concepts, discusses Africa’s agricultural paradox on how the continent grows much of what the world eats yet earns the least from it. She shares how smarter systems, traceability, and value chain reforms can change the game for African agribusiness, home to 70 percent of the world’s cocoa produce. Excerpt:
Africa produces about 70% of the world’s cocoa but earns less than 5% of the $130 billion chocolate market. Why does this gap exist, and how can it be closed?
That gap exists because, for too long, Africa has been positioned as a raw material supplier instead of a value creator. We grow about 75% of the world’s cocoa but process less than 10% of it locally. The real money is not in the beans we see; it is in what happens after – processing, packaging, branding, and retail. Those stages are dominated by Europe and North America, which is why they capture the bulk of the $100 billion chocolate market.
There are also structural barriers that make it difficult for African producers to move up the value chain. Tariff policies in major markets still favour the import of raw cocoa but penalise semi-processed or finished products. Add to that the challenges we face with power supply, inadequate transport networks, limited storage, and the high cost of capital, all these combined makes large-scale local processing expensive and risky.
Another growing factor is traceability. Buyers in Europe and Asia now want full visibility, they want to know where each bean comes from, if farmers were paid fairly, and if the farms meet sustainability standards. Because many smallholders lack digital systems or certification, we are often locked out of premium markets that pay better prices.
At Sunbeth, we believe the solution lies in changing the way we participate in the cocoa economy. We are investing in farmer training, digital traceability systems, and local partnerships that support small processors and exporters. If Nigeria and other cocoa-producing countries can strengthen infrastructure, simplify trade logistics, and align with global sustainability frameworks, Africa can start earning in billions, not just from exports, but from owning more of the value chain.
Global markets are demanding traceability and ethical sourcing. How does Sunbeth meet these rising standards?
Traceability has become the new currency in global trade. Buyers no longer just want cocoa; they want proof of where it came from, how it was grown, and whether the people behind it were treated and paid fairly. For us at Sunbeth, meeting these expectations is not about ticking a box; it is about building trust and long-term competitiveness.
We have built our sourcing model around transparency. Every farmer in our network is digitally profiled, and their produce can be traced from farm to export point. This data helps us demonstrate compliance with international standards and assures our partners that our cocoa is ethically and sustainably produced.
We also train our farmers on global sustainability certifications such as Rainforest Alliance and UTZ, helping them meet the documentation, labour, and environmental requirements that international buyers now demand. By doing this, we are not only protecting our market position but also giving our farmers access to better-paying, premium markets.
In today’s market, ethical sourcing is not a trend; it is the entry ticket. At Sunbeth, we see it as a chance to set a higher standard for Nigerian cocoa and prove that responsible practices and profitability can go hand in hand.
Cocoa prices are falling after record highs in late 2024. In this volatile market, how can Nigeria, and Sunbeth, remain competitive while protecting farmer livelihoods?
Cocoa prices reached record highs in 2024 because of supply shortages in West Africa, but as production levels recover, prices are naturally correcting.
This kind of volatility is part of global commodity markets, which is why the real goal should be building resilience, not chasing short-term gains.
Resilience starts at the farm level. Farmers must have access to improved seedlings, better farming techniques, and climate-smart practices that help sustain yields even when the weather or markets are unpredictable. We invest heavily in training and support to make sure our farmers can stay productive and competitive regardless of price fluctuations.
Nigeria also needs to move beyond raw cocoa exports. The real opportunity lies in processing and producing premium cocoa products that attract higher value in the global market. Local processing not only creates jobs but also protects the industry from external shocks.
Lastly, diversification is key. By connecting our farmers and cooperatives to a wider network of buyers across different regions, we reduce overdependence on a few markets. This ensures that even when global prices dip, our farmers still have access to stable and fair income streams.
In short, the future of Nigeria’s cocoa industry depends on smarter farming, stronger value chains, and a focus on long-term competitiveness rather than short-term price movements.
Climate change is a massive threat. Sub-Saharan Africa has already seen a 34% drop in agricultural productivity since 1961. How is Sunbeth adapting?
Climate change is already affecting agriculture across Africa. Unpredictable rainfall, longer dry seasons, and flooding have reduced yields and made farmers more vulnerable. Sub-Saharan Africa has seen a 34% drop in agricultural productivity since 1961, and the decline continues.
Growing up, my dad was a major regional cocoa merchant, and I often saw farmers lose their entire harvests to unpredictable weather and unsustainable post-harvest practices.
At Sunbeth, we treat climate resilience as a core part of our business. We are helping farmers adopt climate-smart practices like improved seeds, efficient irrigation, and better soil management. These measures make their farms more productive and less exposed to weather shocks.
We are also investing in stronger supply chains. Better storage and transport systems reduce post-harvest losses and help farmers maintain stable income even during difficult seasons.
For us, building climate resilience means securing the future of African agriculture. Every intervention we make is designed to help farmers adapt, stay competitive, and thrive in a changing climate.
Read also: Nigeria re-enters Ghana’s cocoa market as Sunbeth secures historic license
What role do you see for women and youth in agribusiness, especially given Africa’s demographic shifts?
Women and young people are at the heart of Africa’s food story. Across the continent, women do most of the work on small farms but still struggle to access land, finance, and fair markets. If we want real progress, we must make it easier for them to get credit, training, and better pay. Once women are empowered, the entire agricultural value chain becomes stronger.
Our young people are also a huge opportunity. Agriculture can create millions of jobs if we move beyond subsistence farming and start treating it as a business. We are already seeing youth bring in fresh ideas, using technology for traceability, mechanisation, and data-driven farming. They are proving that agriculture can be modern, profitable, and innovative.
The truth is that Africa’s food future depends on how well we include women and youth. We must make agribusiness something they are proud to be part of, not something they run away from. That is how we secure the next generation of farmers and agripreneurs.
What partnerships has Sunbeth built to strengthen its global reach?