Nigeria’s economy stands to gain substantially more by processing cocoa into finished products rather than continuing to export raw beans, according to Mr John Alamu, the founder and Group Managing Director of CapitalSage Holdings. This strategy of value addition is crucial for achieving Nigeria’s economic independence, he argues.
Alamu explained the stark financial contrast between the two export models. An exporter selling raw cocoa might earn approximately $8,000 per tonne. However, if that same tonne is processed into finished goods like chocolate, the value earned can increase up to 30 times the raw export price. Even partial processing into cocoa butter yields six times the return of exporting the raw beans.
This philosophy has been the driving force behind CapitalSage Holdings, which began as a small loan provider in 2014 with just N100,000 and has since evolved into a diversified conglomerate. Its agribusiness arm, Johnvents Group, is now a leading participant in the global value chain for commodities like cocoa, sesame, and cashew.
Through its subsidiaries, including Johnvents Industries and the historic Premium Cocoa Products plant in Ile-Oluji, the Group possesses the capacity to process up to 48,000 metric tonnes of cocoa annually. These processed products—such as butter, liquor, cake, and powder—are then exported directly to key international markets in Europe, Asia, and the United States.
Alamu’s venture demonstrates the potential for homegrown industrialisation. Today, CapitalSage Holdings directly employs over 2,000 people and supports more than 10,000 farmers across various sectors. The company’s growth trajectory, which also includes successful fintech operations advancing financial inclusion, serves as a powerful testament that Africa’s economic future lies in transformation, value addition, and bold leadership, rather than merely relying on raw commodity exports. His mission, he noted, is not just corporate success, but securing economic freedom for the nation.
