IllustrativeLiberia Cocoa Value Chain
Liberia · NationwideAgro-processing · Cocoa
Rehabilitation and replanting of 25,000 ha of Liberian cocoa, with certified nurseries, ten fermentation and quality hubs and a premium processing facility, in an estimated c. USD 70m programme.
Rationale
Liberian cocoa exports earned USD 223m in 2024 from 40,000 smallholders on 81,500 ha, yet yields of 150–300 kg/ha sit well below regional peers and fermentation and drying are substandard. Renewed trees, inputs and cluster fermentation target higher yields and more grade 1 cocoa.
- Farms
- 12,500 ha replanted, 12,500 ha rehabilitated
- Nurseries
- 20 certified, 10m grafted seedlings a year
- Post-harvest
- Ten fermentation and quality hubs
- Processing
- One automated premium facility
Investment opportunity
Transaction structure
Equity from anchor investors in production and processing; USD 68.1m sought toward the USD 70m programme.¹
Use of funds
Nurseries, 12,500 ha replanted and 12,500 ha rehabilitated, fermentation hubs and one processing facility.
Revenue basis
Export sales of graded, traceable premium cocoa beans and processed cocoa products. Not yet contracted.
The ask
USD 68.1m of equity from anchor investors for replanting, rehabilitation, fermentation and processing, alongside USD 1.89m of public support.
Why it is bankable
Cocoa exports generated USD 223m in 2024, from 40,000 smallholders farming 81,500 ha.
Yields of 150–300 kg/ha sit well below regional peers; renewed trees, inputs and fermentation target higher yields and more grade 1 cocoa.
Duty-free access to the EU under Everything But Arms, to ECOWAS under its trade scheme, and to the other Mano River Union markets.
Tax holidays of up to 25 years, duty exemptions on machinery and inputs, and no export duty on processed agricultural products.
Data and evidence · Today against the programme
| Today | With the programme | |
|---|---|---|
| Yields | 150–300 kg/ha, low against regional peers | Higher yields on 25,000 ha renewed |
| Bean quality | Low, with substandard fermentation and drying | Higher share of grade 1 cocoa |
| Market | USD 223m of exports (2024) | Traceable, deforestation-free premium cocoa |
Project readiness and timeline
- OriginationGreenfield
- FeasibilityCurrent stage
- StructuringTo follow
- Financial closePost-diligence
- ConstructionTo follow
Key risks and mitigants
Export buyers are not yet contracted; mitigant is an established USD 223m export market with EU, ECOWAS and Mano River Union access.
The programme works across smallholder land; land mapping and community agreements are released under NDA.
Premium buyers require deforestation-free supply; traceability is built into the fermentation and quality hubs.
Transaction terms
- Offtaker
- Export buyers
- Contract status
- Not contracted
- Instrument sought
- Equity
- Structure
- Anchor investors, with public-private nurseries and fermentation hubs
- Technology
- Grafted seedlings, rehabilitation and replanting, cluster fermentation, traceability and processing
- Capacity
- 25,000 ha: 12,500 ha rehabilitated, 12,500 ha replanted
- Location
- Liberia; sites under NDA
- WAIIS pillar
- Agribusiness & Food Systems
Development impact
Social
5,000 direct beneficiaries and 25,000 indirect households.¹
Economic
Higher-value exports and more foreign exchange from premium and organic beans.
Climate
Net –79,049 tCO2-e; positions Liberia as a supplier of traceable, deforestation-free cocoa.¹