Chief Executive Officer of the Cocoa Marketing Company of Ghana (CMC), Dr Wisdom Kofi Dogbey, has called for a major overhaul of Africa’s cocoa industry, warning that the continent’s long-standing dependence on raw cocoa exports is undermining its economic potential.
Delivering a keynote address at the 2026 Africa Trade Summit under the theme “Africa Agribusiness Industry Insights,” Dr Dogbey described cocoa as a strategic asset whose full value Africa has yet to harness. He argued that despite cocoa’s central role in Ghana’s economy and Africa’s dominance in global production, the continent continues to miss out on the most profitable segments of the cocoa value chain.
According to him, Africa produces more than 70 per cent of the world’s cocoa, yet most of it is exported in raw form for processing abroad. This, he said, allows foreign markets to capture value through processing, branding, and finished products, while producing countries remain exposed to price volatility and limited earnings.
Dr Dogbey stressed that exporting raw cocoa alone comes at a steep cost. He explained that the practice drains the continent of industrial jobs, higher export revenues, and opportunities for technology transfer, leaving farmers and local economies vulnerable to global market fluctuations. In his view, this model is no longer viable in a rapidly changing global economy.
As part of efforts to reverse this trend, Dr Dogbey disclosed that CMC has rolled out a strategic value-addition initiative known as Project Elevate. The programme is designed to shift Ghana’s cocoa commercialisation strategy toward processing cocoa into semi-finished products such as cocoa butter, cocoa powder, and cocoa mass before export.
He noted that these products attract significantly higher margins and strengthen Ghana’s position within global cocoa supply chains. Dr Dogbey emphasised that value addition is no longer a talking point at CMC but a deliberate and actionable strategy.
Beyond increased export earnings, the CMC CEO highlighted the broader developmental impact of agro-industrialisation in the cocoa sector. He explained that expanded processing capacity would create employment opportunities, build specialised skills, and stimulate supporting industries including logistics, packaging, and manufacturing.
He further noted that value-added cocoa exports provide a more stable revenue base, enabling reinvestment in sustainable farming practices, improved technology, and long-term support for farmers. According to him, this approach ensures that benefits are shared more equitably across the value chain.
While his address centred on cocoa, Dr Dogbey made it clear that the case for value addition extends to Africa’s wider agribusiness sector. He urged African countries to adopt similar strategies across other agricultural commodities as a pathway to economic diversification, improved trade balances, and poverty reduction.
Dr Dogbey concluded by calling for strong collaboration among governments, private sector players, and farmers, noting that successful value addition depends on supportive policies, targeted investment incentives, and coordinated execution across the industry.
