Climate Change and Market Reform Dominate Cocoa Agenda at ACFIF 2026

Climate change and the future structure of global cocoa markets emerged as the twin focal points at the maiden Africa Cocoa Finance & Investment Forum (ACFIF 2026), held at the London Stock Exchange, in the City of London, United Kingdom, where global investors, policymakers and industry leaders gathered to reimagine the future of Africa’s cocoa economy.

A major intervention came from former President John Agyekum Kufuor, who delivered a keynote address remotely, warning that climate change now poses a direct and escalating threat to cocoa production across West Africa.

He cited rising temperatures, soil degradation and persistent pest outbreaks as structural risks that could significantly undermine long-term productivity if urgent adaptation measures are not taken.

He further described Africa’s cocoa economy as fundamentally unbalanced, noting that although the continent produces about 70% of the world’s cocoa, it captures less than 2% of the global chocolate market.

He called for urgent structural reforms anchored on industrialisation, value addition, and strategic investment as the pathway to building resilience and unlocking greater economic returns.

Mr. Kufuor stressed that cocoa must be repositioned from a raw export commodity into a strategic economic asset comparable to oil and gold.

He outlined key priorities including improved farmer incomes, expanded youth participation, investment in local chocolate manufacturing, and stronger regional cooperation under the African Continental Free Trade Area (AfCFTA).

Adding momentum to the discussions, the Chief Executive of the International Cocoa Organization (ICCO), Michel Arrion, reinforced calls for structural transformation, including the establishment of an African Cocoa Exchange.

He argued that Africa must take greater control of cocoa pricing rather than remaining dependent on markets in London and New York.

“Africa should not remain a price taker,” Mr. Arrion, said pointing to recent price volatility as evidence of deep structural weaknesses in the global cocoa trading system.

He proposed a warehouse receipt system to improve access to finance and strengthen transparency in cocoa trading.

Participants at the forum agreed that while such reforms are promising, their success will depend on strong political will, sustained investor confidence, and coordinated financial support across cocoa-producing countries.

Organisers of ACFIF 2026 described the forum as a major milestone, highlighting strong investor interest and a growing pipeline of opportunities across the cocoa value chain.

They also announced plans to expand the initiative globally, with future engagements scheduled in New York, Amsterdam, and major cocoa-producing hubs in Africa.

 

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