ETG and Cocoanect announced today that they have entered into a global strategic integration plan, combining ETG’s industry-leading origin outreach in Africa and supply chain management capabilities with Cocoanect’s world class cocoa sustainability and certified cocoa business.
The integration plan will strengthen ETG’s presence in the Cocoa industry and further diversify its offering of products in West Africa.
Cocoanect has rapidly expanded to become a significant cocoa bean supplier with a strong and credible sustainable and certified cocoa business over the past few years.
The integration is expected to deliver significant value to all stakeholders by creating a consolidated, reliable and responsible supply chain. The integration of Cocoanect with ETG’s vast network and organizational structure will build a stronger cocoa bean trading platform and deliver value added services to their suppliers and clients.
ETG owns and manages a vertically-integrated agriculture supply chain across the African subcontinent with operations spanning procurement, processing, warehousing, transport, distribution and merchandising. In FY2019, ETG procured and distributed over 6.7 million metric tonnes commodities including maize, pulses, wheat, rice, sugar, oilseeds, cashew nuts, cocoa, coffee, fertilizer and farm implements. Eighty percent of the African-originated stock was procured at farm gate level.
Since establishment of their cocoa business five years ago, Cocoanect has built strong relationships with farmers, grinders and chocolatiers. They specialize in connecting origins to markets, farmer organizations to customers and traceability to sustainable development. Headquartered in Rotterdam, Cocoanect’s management team has 25 years combined experience in operational and commercial cocoa administration. The trading team is supported by an office in Ivory Coast and Ecuador and representatives in Ghana, Peru, Cameroon and Nigeria.