Sunbeth Global Launches N200bn Commercial Paper to Boost Cocoa Value Chain

Sunbeth Global Concepts Limited, a cocoa exporter, has secured approval for a N200 billion Commercial Paper Programme, with an immediate launch of up to N100 billion across Series 1, 2 and 3 issuances, in a move aimed at deepening liquidity and strengthening operations within the cocoa value chain.

The company, ranked among the top five non oil export contributors in the country, said the issuance is structured across 180 day, 270 day and 364 day tenors. Proceeds will be deployed to finance contractual working capital requirements, including inventory procurement and the execution of physical and hedged offtake obligations tied to its export operations.

The offer, which opened on Friday, February 27, 2026, is scheduled to close on Thursday, March 5, 2026, with allotment and settlement fixed for March 6. It carries a minimum subscription of N5 million and multiples of N1,000 thereafter. The Commercial Papers will be quoted on FMDQ and or NGX to enhance liquidity and transparency for investors.

Speaking on the development, the chief operating officer of Sunbeth Global Concepts Limited, Nzubechukwu Anisiobi, described the programme as a strategic step in reinforcing the company’s liquidity base and execution capacity.

“The establishment of our N200 billion Commercial Paper Programme reflects our disciplined capital strategy and solid credit profile. In a working capital intensive export business, access to structured short term funding strengthens liquidity, supports efficient contract execution and preserves balance sheet stability,” he said.

He further stressed that the move signals strong market confidence in the company’s governance and risk management framework. “The Programme underscores the confidence the capital markets have in our governance standards, earnings resilience and robust risk management discipline,” Anisiobi added.

Established in 2017, Sunbeth has exported over 200,000 metric tonnes of cocoa beans and 60,000 metric tonnes of cashew nuts to markets across Europe, Asia and the United States. In 2025 alone, the company recorded more than N600 billion in revenue, underscoring its scale and growing footprint within Nigeria’s agricultural export ecosystem.

The company works directly with over 30,000 farmers and collaborates with more than 250 local buying agents nationwide, a structure that enables aggregation at scale and supports rural livelihoods. Its global strategic partners include commodity trading and processing giants such as Cargill, GCB Group, JB Cocoa, Touton, Macquarie and StoneX, providing diversified offtake channels and multi destination access.

The company is rated A2 by DataPro and GCR on the short term scale, A by DataPro on the long term scale and BBB+ by GCR on the long term rating. According to the rating agencies, the grades reflect its leading market position in cocoa exports, strong revenue base, sound earnings trajectory and experienced management team with a track record in commodity trading.