AGP Executive Report

Banking Deal: Kenya’s central bank approved Nedbank’s plan to buy up to a 66% stake in NCBA Group, clearing a key hurdle in the roughly R13.9bn transaction and extending Nedbank’s reach across Kenya, Tanzania, Uganda, Rwanda plus digital operations in Ghana and Côte d’Ivoire. Regional Integration: ECOWAS’s new Commission President, Birame Diop, pledged renewed engagement with Mali, Burkina Faso and Niger despite their exit, arguing geography and shared security and economic ties make cooperation unavoidable. Cocoa Markets: Cocoa futures surged to multi-month highs as traders priced in tighter West African supply, with concerns over Ivory Coast and Ghana crop quality and smaller 2026/27 output forecasts. Cocoa & Coffee Campaign: Côte d’Ivoire set Sept. 1 for the 2026/27 cocoa and coffee campaign launch, where farm-gate prices will be announced alongside the 10th National Cocoa and Chocolate Days in Abidjan. Housing Crunch: Abidjan residents say rental costs and poor housing conditions are outpacing incomes, highlighting a growing affordability gap despite the city’s rapid population growth. Startup & Trade: Brumerie, Abidjan’s proximity-based marketplace, says it has launched its web MVP and started field validation in Yopougon with new trust rules to drive early transactions.

Cocoa & Coffee Campaign: Côte d’Ivoire is set to unveil the 2026/27 coffee and cocoa farm-gate prices on Sept 1 at the Abidjan Exhibition Park during the 10th National Cocoa and Chocolate Days, with Vice-President Tiémoko Meyliet Koné acting for President Ouattara; the 2025/26 campaign peaked at 2,800 FCFA/kg, then fell to 1,200 FCFA/kg in the intermediate phase as global prices weakened, while forecasts warn of climate pressure and aging plantations. Cocoa Market Signals: Cocoa futures surged to multi-month highs as traders priced in tighter West African supply, citing disease risk and weaker crop prospects in both Ivory Coast and Ghana, alongside a sharply reduced global surplus estimate. Living Income Push: Fairtrade Africa is urging stronger coordination across the cocoa value chain to close the living income gap, pointing to new reference prices (including 1,758 FCFA/kg for Côte d’Ivoire). Abidjan Housing Crunch: An AFP report highlights how Abidjan’s booming population is outpacing decent, affordable housing, with renters struggling even as minimum wage levels lag rising costs. Trade & Finance Watch: Ivory Coast-linked digital banking is in the spotlight as Kenya’s central bank clears Nedbank’s planned majority buyout of NCBA, a deal that could reshape regional banking reach. Business & Innovation: Afrikrea relaunches under its original name on its 10th anniversary, returning to its mission as a marketplace for African and diaspora creators. Regional Diplomacy: Mauritanian and Ivorian foreign ministers chaired the first session of their Joint High Commission for Cooperation in Abidjan, focusing on agreements across security, trade, investment, infrastructure, energy, mining and agriculture.

Housing Crunch in Abidjan: AFP reports Abidjan’s fast population growth is colliding with a shortage of affordable homes, leaving residents like Veronique and Faustin Kla searching for rentals far beyond their budgets as UN-Habitat warns Sub-Saharan Africa has the world’s highest “rental unaffordability” rates. Cocoa Price Signal: Reuters says Ivory Coast is expected to keep the 2026/27 cocoa farmgate price fixed at 1,200 CFA francs/kg, after cutting from 2,800 CFA francs/kg in 2025/26, as the regulator’s forward sales guide the guaranteed level. Energy Payment Pressure (Nigeria): NERC says Nigeria recorded N1.36trn in unpaid electricity in 2025, highlighting wider West African power-sector cashflow strain that can spill into regional trade and investment. Trade & Food Markets (Rice): Indian rice exporters report 3,317 buyers from 138 countries registered for BIRC 2026, with registrations including Côte d’Ivoire—an early sign of demand for new rice routes. Sahel Security Costs: A report on Mali’s fuel “war economy” describes how jihadist blockades and junta convoys both profit from fuel flows, underscoring instability risks for transport and commerce across the region.

Cocoa Policy: Ivory Coast is expected to keep the fixed cocoa farmgate price at 1,200 CFA francs/kg for the 2026/27 main crop season starting September 1, after paying 2,800 CFA/kg in 2025/26 and cutting to 1,200 in March—an effort tied to regulator forward sales and aimed at stabilizing farmer income. Market Watch: Cocoa prices jumped to 3-week highs on concerns over West African crop quality, with reports pointing to disease pressure from poor sunshine and weaker pod development in both Ghana and Ivory Coast. Sustainability & Child Labour: Ferrero and Save the Children’s Cacao Connect initiative reports progress in Ivory Coast cocoa communities, including improved access to education and reduced poverty levels in participating households, as the sector tackles child labour risks. Energy & Investment: Africa is on track for a record solar year in 2026, with Côte d’Ivoire highlighted among countries where solar mini-grids could help close rural electrification gaps. Trade & Agriculture: West Africa is pushing to speed up regional seed trade, arguing that uneven enforcement of ECOWAS seed rules still blocks farmers and entrepreneurs from scaling varieties across borders. Business Diplomacy: Qatar’s international cooperation minister met Côte d’Ivoire’s poverty-fighting and cohesion minister, alongside talks with the AfDB on strengthening bilateral cooperation.

Cocoa Price Support: Ivory Coast is expected to keep the fixed cocoa farmgate price at 1,200 CFA francs/kg for the 2026/27 main crop season starting September 1, after paying 2,800 CFA francs/kg in 2025/26 and cutting the guaranteed price earlier this year as global prices eased. Supply Chain & EU Rules: Industry sources warn a delayed 2026/27 cocoa crop could trigger port congestion in Abidjan and San Pedro in November–December as exporters try to ship before stricter EU deforestation rules take effect. Cocoa Quality Pressure: Cocoa prices jumped on concerns that black pod disease is spreading due to poor sunshine in West Africa, with early surveys pointing to weaker bean development in both Ivory Coast and Ghana. Gold & Enforcement: In a separate enforcement story, India’s DRI gold-smuggling probe reached Sarafa Bazar in Indore, with arrests rising to five—a reminder of how tightly bullion markets are being policed. Regional Trade Inputs: West Africa is pushing to speed up regional seed movement, aiming to make certified varieties easier to multiply and sell across borders. Business Diplomacy: Qatar’s minister met Ivory Coast’s Belmonde Dogo and the AfDB president to discuss cooperation and support.

Cocoa Pricing: Ivory Coast is expected to keep the fixed cocoa farmgate price at 1,200 CFA francs/kg for the 2026/27 main crop season starting September 1, after paying 2,800 CFA francs/kg in 2025/26 and cutting to 1,200 earlier this year. Supply Chain & EU Rules: Industry sources warn the delayed start of the 2026/27 main cocoa crop could cause port congestion in Abidjan and San Pedro in November–December, as exporters rush shipments ahead of stricter EU deforestation rules. Energy & Investment: A new analysis says Africa is on track for a record 17GW of solar installations in 2026, with solar mini-grids highlighted as key for expanding electricity access in Francophone West Africa, including Côte d’Ivoire. Business & Finance: Allied Gold and Zijin Gold have scrapped a US$4bn takeover, pivoting to a US$295m private placement that gives Zijin a 9.2% stake, with implications for gold assets linked to Côte d’Ivoire. Sports Media: DAZN secured rights to broadcast LaLiga EA SPORTS across Sub-Saharan Africa through 2028/29, boosting premium football access for the region.

Cocoa Price Policy: Ivory Coast is expected to keep the fixed cocoa farmgate price at 1,200 CFA francs/kg for the 2026/27 main season starting September 1, after cutting from 2,800 CFA/kg in 2025/26—an effort to balance farmer support with global price swings. Supply Chain & Ports: Industry sources warn a delayed main cocoa crop could trigger port congestion in Abidjan and San Pedro in November–December, as exporters rush shipments ahead of stricter EU deforestation rules. Cocoa Market Pressure: Cocoa futures jumped on concerns about West African crop quality, with disease risk and weaker pod development in Ivory Coast and Ghana. Agri-Industry Investment: Olam Agri completed its acquisition of Asia Africa Rubber Industry (ASAF), adding 176,000 tons/year of rubber processing capacity in Ivory Coast and strengthening its rubber value chain. Regional Trade & Seeds: West Africa is pushing to speed up cross-border movement of crop varieties, tackling uneven enforcement of ECOWAS seed recognition rules. Business & Finance: Stellar AfricaGold granted incentive stock options and performance share units tied to gold resource milestones. Diplomacy: Qatar’s minister met Ivory Coast’s poverty-fighting and cohesion minister, plus the AfDB president, to discuss cooperation.

Cocoa Supply & Trade: Ivory Coast’s Coffee and Cocoa Council warns a delayed 2026/27 main cocoa crop could trigger port congestion in Abidjan and San Pedro in Nov–Dec as exporters rush to ship ahead of stricter EU deforestation rules, with sources citing an 8–10 week delay and weekly arrivals staying under 15,000 tonnes in September and 25,000 in October. Cocoa Sustainability: Ferrero and Save the Children report progress in tackling child labour in Ivory Coast cocoa communities via the Cacao Connect initiative, including improved access to education and social-rights awareness, alongside a drop in households below the poverty line from 60% to 43% over five years. Energy & Investment: Analysis says Africa is on track for a record 17GW of solar installations in 2026 (+45% y/y), and highlights solar mini-grids as crucial for expanding access in Francophone West Africa including Côte d’Ivoire. Agribusiness & Regional Markets: West Africa is pushing to speed up regional seed trade, arguing that ECOWAS mutual recognition rules exist but are applied unevenly, limiting farmers’ access to certified varieties across borders. Business & Finance: Olam Agri completes its acquisition of ASAF, adding 176,000 tonnes/year of rubber processing capacity in Ivory Coast to expand natural rubber supply for international buyers. Tourism Promotion: Ghana’s tourism minister urged Africa World Airlines to add destination info on passenger routes to boost domestic tourism—an approach Côte d’Ivoire operators may watch closely.

Cocoa Supply & EU Rules: Ivory Coast’s Coffee and Cocoa Council warns that a delayed 2026/27 main cocoa crop could trigger Abidjan and San Pedro port congestion in November-December as exporters rush ahead of stricter EU deforestation rules. Cocoa Prices: The market reacted with sharp cocoa price gains on concerns over West African crop quality, including disease pressure linked to low sunshine and weaker pod development. Child Labour Progress: Ferrero and Save the Children say the Cacao Connect initiative has improved outcomes in Ivory Coast cocoa communities, including more education access and reduced poverty levels, as the sector pushes for sustainable supply chains. Cocoa Integrity Scrutiny: A new study suggests at least one in four cocoa traceability audits in Ivory Coast may include manipulated data to meet sustainability targets, raising pressure ahead of the delayed EUDR rollout. Agri-Processing Investment: Olam Agri completed its acquisition of Asia Africa Rubber Industry, adding 176,000 tonnes of annual rubber processing capacity in Ivory Coast to expand traceable natural rubber supply. Trade & Industry: Côte d’Ivoire remains a top industrial performer in the AfDB’s Africa Industrialisation Index, with the country highlighted among the continent’s industrialisation leaders. Diplomacy: Qatar’s international cooperation minister, Dr Maryam al-Misnad, held virtual talks with Côte d’Ivoire’s poverty-fighting and cohesion minister Belmonde Dogo and with AfDB president Sidi Ould Tah on strengthening cooperation. Legislative Ties: Vietnam and Côte d’Ivoire moved to deepen parliamentary and economic cooperation, including agricultural production and export model exchanges.

Cocoa Supply & EU Rules: Ivory Coast’s delayed 2026/27 main cocoa crop could trigger Abidjan and San Pedro port congestion in Nov–Dec as exporters rush ahead of stricter EU deforestation rules, with weekly arrivals expected to stay below 15,000 tons in September and 25,000 in October. Cocoa Integrity: A study by ETH Zurich affiliates says at least 1 in 4 cocoa traceability audits in Ivory Coast showed manipulated data to meet sustainability targets, raising fresh pressure on certification and auditing practices. Child Labour Progress: Ferrero and Save the Children’s Cacao Connect initiative reports gains in tackling child labour in Ivory Coast cocoa communities, including improved education access and a drop in households below the poverty line. Agri-Industry Investment: Olam Agri completed its acquisition of Asia Africa Rubber Industry, adding 176,000 tons/year of rubber processing capacity in Ivory Coast to expand traceable natural rubber supply. Business & Trade Links: Vietnam and Côte d’Ivoire agreed to deepen parliamentary and economic cooperation, including agricultural production and export model exchanges. Security & Crime: INTERPOL’s Operation Jackal IV reports 58 arrests and 263 identifications across 22 countries, targeting West African cyber fraud networks with links to business email scams and romance/investment fraud. Industrialisation Ranking: The AfDB’s Africa Industrialisation Index places Morocco top and highlights Senegal and Côte d’Ivoire breaking into the top 10, signaling a shift in Africa’s industrial geography.

Cocoa & Ports: Ivory Coast’s cocoa regulator and exporters warn a delayed 2026/27 main crop could choke Abidjan and San Pedro ports in Nov–Dec as shipments race ahead of stricter EU deforestation rules, with the main season potentially pushed back 8–10 weeks. Cashew Boom: Côte d’Ivoire remains the world’s top cashew producer (about 40% global output), with production rising to 1.549m tonnes in 2025 and farmer income jumping to 660bn CFA francs, as the sector pushes further processing and investment. Gold Drilling Watch: Aurum Resources’ latest high-grade assay results from its Boundiali gold project in Côte d’Ivoire lifted investor sentiment, reinforcing confidence in the resource scale. Agri-Policy Links: Vietnam and Côte d’Ivoire’s National Assembly leaders agreed to deepen parliamentary cooperation and study agricultural production and export models, including rice processing in Can Tho. Trade & Security: INTERPOL’s Operation Jackal IV—covering 22 countries including Côte d’Ivoire—ended with 58 arrests and 263 suspects identified, targeting cyber-enabled fraud networks linked to West African organised crime. Energy/Offshore: Petrobras has entered negotiations for four offshore exploration blocks in Ghana’s Keta Basin, continuing its West Africa expansion that also includes interests in Ivory Coast. Health & Industry: A Senegal-made generic hydroxyurea treatment is reported as the first Africa-produced option for sickle cell care, aiming to cut costs and improve access across West Africa.

Maritime Trade & Auctions: An online public auction is set for the PSV “Bourbon Explorer 504” with bareboat charter on Shipbid, running 16:00–16:30 on Sept 29, 2026, with vessel details including DP2 firefighting capability and BV classification. Cocoa Integrity: A study by ETH Zurich affiliates says at least 1 in 4 cocoa traceability audits in Côte d’Ivoire used manipulated data to meet sustainability targets, raising concerns ahead of delayed EU deforestation rules. Security & Crime: INTERPOL’s Operation Jackal IV (22 countries) ended Aug 25 with 58 arrests and 263 suspects identified, linking West African cyber fraud networks (including Black Axe) to a shared “crime-as-a-service” infrastructure now also used for sextortion. Diplomacy & Agriculture: Vietnam and Côte d’Ivoire lawmakers met in Hanoi to deepen parliamentary cooperation, while Ivorian President Patrick Achi’s delegation studied rice production and export models in Can Tho. Business & Energy: CB&I Asset Solutions won a three-year operations and maintenance contract in Côte d’Ivoire for an FPSO vessel, covering safe operation, integrity management and regulatory compliance. Trade Risks: A report alleges an Israeli-owned logging firm smuggled timber into Côte d’Ivoire worth $437,000, with shipments outside Liberia’s legal LiberTrace system.

Timber Smuggling Probe: An Israeli-owned logging firm, Horizon Logging Limited, allegedly smuggled about US$437,000 worth of timber into Côte d’Ivoire in 2023-2024, with shipments reportedly outside Liberia’s legal LiberTrace system and no export taxes paid—while Ivorian declarations still show the imports. Cocoa Integrity Under Scrutiny: A new Science study flags weaknesses in sustainability audits on Côte d’Ivoire cocoa farms, finding record manipulation in about one in four monitoring cases, raising fresh concerns for EU-linked deforestation compliance. Oil & Gas Contract: CB&I’s Asset Solutions won a three-year operations and maintenance contract in Côte d’Ivoire for an FPSO vessel, covering safe restart, integrity management, and regulatory compliance, with a stated value range of US$50m–US$100m. Trade & Diplomacy: Côte d’Ivoire’s National Assembly President Patrick Achi met Vietnam’s counterpart in Can Tho to study high-tech rice and seafood processing models, reflecting growing agricultural trade ties. Security Cooperation: INTERPOL’s Operation Jackal IV reports 58 arrests and 263 suspects identified across 22 countries, targeting West African organised crime networks behind cyber-enabled fraud and money laundering. Business & Finance Signals: MTN Group reported strong H1 2026 growth, citing subscriber momentum in Ghana and Côte d’Ivoire, while Union Bancaire Privée discussed a constructive case for frontier and emerging market debt.

West Africa Crime Crackdown: INTERPOL’s “Operation Jackal IV” (Nov 2025–Jun 2026) led to 58 arrests and 263 suspects identified across 22 countries, targeting cyber-enabled fraud, money laundering, romance and investment scams, and business email compromise. Cocoa Integrity Under Scrutiny: A Science study on Côte d’Ivoire cocoa farms found auditors may alter shade-tree planting records to pass benchmarks, raising concerns for EU deforestation-rule compliance. Energy & Industry Deal: CB&I Asset Solutions won a three-year Côte d’Ivoire contract for operations and maintenance of an offshore FPSO vessel, with a stated value range of $50m–$100m. Agriculture Diplomacy: Côte d’Ivoire’s National Assembly President Patrick Achi met Vietnam’s counterpart in Can Tho to study high-tech rice and seafood processing models, reflecting strong trade ties. Telecom Growth: MTN reported H1 2026 service revenue growth, citing subscriber momentum in Ghana and also growth in Côte d’Ivoire. Business & Finance: Cocoa processor Guan Chong said Q2 profit jumped fivefold to $62.58m, and noted strengthening its Ivory Coast presence after a stake acquisition.

Cocoa Integrity & EU Compliance: A new Science study on Côte d’Ivoire cocoa farms says auditors altered records in about one in four monitoring cases for “sustainable” shade-tree programs, raising fresh concerns for EU Deforestation Regulation compliance. Telecom Growth: MTN Group reported strong H1 2026 results, with service revenue up 17.5% and growth in Ghana and Nigeria, while Côte d’Ivoire also contributed to subscriber momentum. Frontier Finance Outlook: Union Bancaire Privée’s emerging-markets team argues 2026 looks constructive for frontier and emerging market debt, highlighting local-currency opportunities amid global bond selloffs. Oil & Gas Services Contract: CB&I Asset Solutions won a three-year Côte d’Ivoire operations and maintenance contract for an offshore FPSO, including restart, integrity management and regulatory compliance. Parliament & Agriculture Links: Côte d’Ivoire National Assembly President Patrick Achi visited Vietnam National University of Agriculture, pushing deeper cooperation in agriculture, agro-processing and trade. Border Security Research: LASU and Nigeria’s Immigration Service convened a conference on connected borderlands, calling for tighter collaboration between researchers, policymakers and security agencies.

Parliament & Agriculture Diplomacy: Côte d’Ivoire’s National Assembly President Patrick Achi met Vietnam’s National University of Agriculture in Hanoi, praising Vietnam’s rice productivity, agro-processing and cooperative models, and urging Côte d’Ivoire to scale rice output and training. Telecom Growth: MTN Group reported strong H1 2026 results, with service revenue up 17.5% and growth in Ghana and Nigeria, alongside continued momentum in markets including Côte d’Ivoire. Cybersecurity Warning: Police urged Ivorians to “Stop. Check. Report.” after a sophisticated online investment scam, stressing verification before sharing money or personal details. Oil & Services Contract: CB&I Asset Solutions won a three-year operations and maintenance contract in Côte d’Ivoire for an offshore FPSO, citing local supply chain and integrity/regulatory compliance work. Cocoa & EU Rules Watch: Ivory Coast’s cocoa regulator says it is ready for new EU anti-deforestation rules, but exporters warn compliance systems could delay purchases and exports. Cocoa Farmers’ Living Income Push: Fairtrade Africa will convene cocoa stakeholders in Accra around 2026 living income reference prices for Côte d’Ivoire and Ghana, aiming to close the gap between farm-gate pay and household living costs. Business Talent Pipeline: UBA inducted 374 graduate professionals across Africa, including Ivory Coast, under its GMAP programme, highlighting service as a key differentiator as banking digitizes.