The Nigerian Export-Import Bank (NEXIM Bank) has introduced an online portal named ‘cocoaconnectafrica.com’ to establish market connections among farmers, aggregators, and buyers in the cocoa value chain across Africa.
Abubakar Bello, the Managing Director and Chief Executive Officer of NEXIM Bank, made the announcement during the International Cocoa and Chocolate Forum 2024 held in Lagos.
The portal, accessible at any location and on any device globally, facilitates interaction among stakeholders in the cocoa value chain, promoting transparency and direct communication.
Bello highlighted the portal’s role in empowering everyone involved in the cocoa ecosystem, fostering direct connections between buyers, processors, and farmers. The platform aims to eliminate intermediaries, providing a centralised space for stakeholders to showcase their businesses, products, and services.
The marketplace feature allows members to exhibit their products and equipment, while Google Maps integration enables traceability by identifying farm locations. Additionally, the portal serves as a job creation platform and disseminates information on the latest developments, trends, and issues in the cocoa value chain.
Bello emphasised that the portal addresses the lack of market information in Africa, aiming to connect people within the continent and bridge the gap in intra-African trade. NEXIM Bank plans to extend similar platforms for other commodities, starting with cashew.
The initiative aligns with the broader goal of digitising trade processes and enhancing market access in Africa. The portal’s multifaceted approach incorporates connectivity, learning resources, research materials, product information, and videos, providing a comprehensive platform for stakeholders in the cocoa industry.
The Lagos State Commissioner for Commerce, Cooperatives, Trade, and Investment, Folashade Ambrose-Medebem, inaugurated the portal during the forum, commending its transformative potential for the cocoa value chain.