Government steps in to protect cocoa trader Malick Tohé from Olam
The head of the Ivorian cocoa trading lobby and boss of SONEMAT, whose bank accounts were frozen by the Singaporean trader, appears to have friends in high places.
Local cocoa exporters are experiencing significant supply issues and may not manage to honour the contracts that expire when the main 2022-2023 harvest ends this month. Citing lack of action from the cocoa regulatory board, they are asking the president to step in.
Loïc Folloroux, the son of Ivory Coast first lady Dominique Ouattara and owner of Africa Sourcing, has been an effective advocate and a major beneficiary of regulations favouring local players in the country's vital cocoa trade.
Commissioned after a 20162017 season marred by over-production and exporter failings, a recent audit of the ‘Cocoa commercialisation system', which has been seen by the West Africa Newsletter, forensically picks apart the sector's shortcomings. An exclusive.