The recently-launched Cocoa Connect Africa (CCA), by the Nigeria Export-Import Bank (NEXIM), is not only targeted at boosting cocoa production in the country, but also aimed at the USD$1 trillion economy, in line with the vision of President Bola Tinubu. According to the Managing Director, NEXIM, Abubakar Bello, he explained that creation of the digital hub is to bring every activity of every stakeholder in the cocoa industry and the cocoa ecosystem under one platform. He also stated that the development is significant to tackling the issues of lagging trade among cocoa producers and traders.
Speaking recently on the sidelines of the International Cocoa and Chocolate Forum, tagged ‘Putting values in cocoa in producing regions’, some of the benefits of CCA’s establishment to unlock the boundless potential of Cocoa in Africa include:
1. To ease the stress of trade as stakeholders of various commodities would be put under the digital platform.
2. To boost trade facilitation and setting standards for traceability.
3. To educate farmers, as well as regulators and to pass information on latest developments.
4. To communicate latest trends needed for effective regulation in the value chain, among others. The Cocoa Connect Africa was built by NEXIM Bank in collaboration with its long-term partner, a leading digital company in Nigeria, Sapphital Limited.