The move, officials say, is aimed at safeguarding national revenue and diversifying trade partnerships.

Kobenan Kouassi Adjoumani, the Ivorian Minister of Agriculture, said that Abidjan is actively seeking stronger economic ties with the European Union as a contingency plan should US market access become restricted.

"If our products are not accepted in the US, the European Union (EU) must be ready to accommodate them," Adjoumani stated.

The potential tariff has sparked concern across Africa’s cocoa-producing nations, including Ghana, Nigeria, and Ecuador. Analysts warn the impact could be severe, not only for exporters but also for local economies already reeling from global financial and geopolitical shocks.

Speaking to Channel Africa, Financial Analyst and Geopolitical Commentator Dennis O’Shea expressed frustration at African leadership, criticising what he called a “lack of economic foresight”.

“This is a wake-up call for Africa. We need to stop sleeping and start planning. Our leaders have failed to anticipate these global changes,” said O’Shea. “If we had financial experts advising our presidents, we wouldn't be scrambling now.”

O’Shea stressed the need for the African Continental Free Trade Area (AfCFTA) to become fully operational, arguing that it could serve as a buffer against such external shocks.

“Europe came together quickly to form the EU. Africa’s been sitting on AfCFTA for almost a decade. It’s time to implement it properly,” he urged.

He also highlighted that although Ivory Coast dominates cocoa production, it lacks pricing power due to the global nature of commodity markets. “The cocoa supply chain is controlled by companies outside Africa. While Ivory Coast generated $3.8 billion from agriculture in 2023, major chocolate producers made over $16 billion in profits last year,” he noted.

O’Shea concluded with a cautionary note, “Without urgent action and strategic partnerships, Africa risks losing its economic sovereignty.”

--ChannelAfrica--