Nigeria's Sunbeth Plans to Commission Cocoa and Cashew Factories with Capacities of 70,000 Tons and 80,000 Tons Respectively in March 2027

en.Wedoany.com Reported - Sunbeth Global Concepts has announced plans to build a cocoa processing plant with an annual capacity of 70,000 tons and a cashew processing facility with an annual capacity of 80,000 tons in Sagamu, Ogun State, Nigeria, to enhance local value addition in the country's agricultural sector.

The company's Managing Director, Olasunkanmi Owoyemi, unveiled the investment plan at the Africa Cocoa Finance and Investment Forum 2026, organized by the London Stock Exchange Group.

Owoyemi stated that these facilities, expected to commence operations in March 2027, will strengthen Nigeria's processing capacity, create job opportunities, and elevate the country's position in the global cocoa value chain. He called on African cocoa-producing nations to take greater control over procurement systems, logistics, processing, and sustainability frameworks to maintain global competitiveness. Owoyemi noted that Africa must move beyond exporting raw cocoa and focus on value addition to drive industrial growth and long-term competitiveness.

This planned investment marks Sunbeth's transition from an export-oriented enterprise to an integrated agricultural processing company, aiming to capture more value from the agricultural supply chain.