• Ghana eyes Saudi chocolate market with new trade partnerships
• Saudi cocoa imports hit $702M in 2024, mostly chocolate
• Ghana seeks to boost local processing, now just 0.5% of supply

Ghana is stepping up efforts to expand its presence in Saudi Arabia's cocoa and chocolate market. As part of this push, Ghana Cocoa Marketing Company's UK subsidiary (GCMC UK) recently hosted Ali Alwabel, founder of the Riyadh-based consulting firm Saudi Business Links (SBL), at its London offices.

In a statement posted on his LinkedIn page on September 7, Fuad Abubakar, managing director of GCMC UK, said the visit is part of a strategy to position Ghana as a preferred partner for the chocolate industry in the Middle Eastern nation.

“In partnership with Saudi Business Links and Anchora Advisory, we are leveraging our collective strengths to convene the maiden Saudi–Ghana Cocoa2Chocolate Partnership Workshop before the close of 2025 — a platform to unlock trade, investment, and joint ventures," Abubakar said.

The initiative reflects Ghanaian operators' desire to capitalize on the growth of Saudi Arabia's chocolate industry and diversify their markets. Data compiled on the Trade Map platform shows that Saudi purchases of cocoa and related products have surged by nearly 54% over the past five years, from approximately $457 million in 2020 to $702 million in 2024.

However, about 86% of the country's purchases in 2024, or roughly $605 million, were for chocolate. Since nearly 70% of Ghana's cocoa exports are in the form of raw beans, the challenge will be to increase local processing to gain a larger market share in Saudi Arabia.

Trade Map data reveals that Ghana accounted for only 0.5% of Saudi Arabia's purchases of cocoa and derived products in 2024. The main suppliers to the Saudi market include Belgium, Egypt, Turkey, Jordan, the United Arab Emirates, and Italy.

Stéphanas Assocle