Sunbeth Raises ₦165.7bn to Expand Cocoa Export Operations

News in brief:

-Sunbeth Global Concepts raised ₦165.73 billion through a commercial paper programme that exceeded its ₦100 billion target by 65%.

-The funds will expand cocoa sourcing, financing, and export operations across Nigeria and other West African markets.

Sunbeth Global Concepts Limited has raised ₦165.73 billion through a commercial paper issuance, significantly surpassing its initial ₦100 billion target as investor confidence in Africa’s agricultural trade continues to grow.

The offering opened on February 27 and closed on March 6, 2026, with subscriptions exceeding the target by 65%. The issuance was structured across three series with tenors of 179 days, 270 days, and 364 days, providing investors with flexible short-term investment options.

Attractive Yields Draw Investor Interest

The commercial notes were issued at discount rates ranging between 19% and 19.3%, translating to implied yields of approximately 21% to 23.5%.

Analysts say the strong participation reflects rising investor interest in companies operating within Africa’s agricultural export value chains, particularly commodities such as cocoa that continue to experience strong global demand.

Funding to Expand Cocoa Trading Operations

Sunbeth plans to channel the proceeds into strengthening the working capital behind its cocoa trading operations, enabling the company to expand sourcing, financing, and export activities from Nigeria to international markets.

The Chief Operating Officer of the company, Nzubechukwu Anisiobi, described the successful issuance as a major vote of confidence in the company’s long-term strategy.

He noted that the new capital would allow the firm to scale trading operations and increase its contribution to Africa’s agricultural export sector.

West Africa’s Role in Global Cocoa Supply

Cocoa remains one of West Africa’s most important agricultural exports, with countries such as Nigeria, Ghana and Côte d’Ivoire supplying a large share of the world’s cocoa beans.

Industry experts say companies capable of efficiently financing and transporting commodities across borders play a vital role in linking African farmers with global markets.

According to the Chief Financial Officer of Sunbeth, Adeyemi Aduwo, the successful fundraising highlights increasing investor confidence as commodity supply chains evolve across the region.

Expansion into Cocoa Processing

Beyond trading, the company plans to expand deeper into the cocoa value chain, including processing and other higher-value segments. Such investments could enable African firms to capture greater value from commodities that have traditionally been exported in raw form.

Sunbeth is also expanding its presence across major cocoa-producing markets in Nigeria, Cameroon, and Ghana.

To support investor transparency and liquidity, the commercial paper will be quoted on either the FMDQ Securities Exchange or the Nigerian Exchange Group.

Strengthening Africa’s Agricultural Trade

Industry observers say the successful issuance reflects a broader shift in Africa’s agricultural sector as investment is increasingly flowing into commodity trading and processing.

This trend is positioning African companies not only as suppliers of raw commodities but also as strategic participants shaping the continent’s role in global food and agricultural markets.