Did you know Africa produces over 50% of the world’s raw cashews, yet 85% of this crop is still exported unprocessed? This represents a major missed opportunity, both for job creation among Africa’s growing youth population and for generating higher earnings and industrial growth in the region. Oxano Capital sees this as a clear investment opportunity to capture value locally and strengthen Africa’s agro-industrial sector.
As global demand for cashew kernels continues to rise from markets like India, Vietnam, the European Union, and China, Africa has a unique chance to move beyond raw exports and capture more value. The key opportunities include:
Value Addition: Currently, 85% of African cashews are exported raw. Increasing local processing will allow countries to move up the value chain, capturing more revenue. Benin’s ban on raw nut exports demonstrates the potential of this strategy.
Global Market Demand: Cashew kernels are sought after globally as healthy, ethically sourced snacks, and cashew kernel oil offers further opportunities. African processors can meet strict international food quality and safety standards to tap into these markets.
Job Creation: Developing new processing factories will create jobs for African youth and generate new income streams for local communities.
Increased Processing Capacity: Investment in modern processing facilities and agro-industrial zones can boost employment, especially for women and youth, while driving broader economic growth.
Africa Cashew Market Regional Insights
- West Africa: Leads the market with major producers including Ivory Coast, Nigeria, and Ghana.
- East Africa: Tanzania is a significant producer and exporter of cashews.
- Southern Africa: Mozambique and Malawi have cashew-producing regions.
Source: Africa Cashew Market Report 2025: Growth Driven by Government Incentives and Partnerships
Top Five African Cashew-Producing Countries
1. Ivory Coast: The continent’s largest producer, with 1.3 million tonnes projected in 2025, Ivory Coast has expanded processing capacity from 68,000 tonnes in 2015 to over 350,000 tonnes in 2024, creating more than 18,000 jobs. The government aims to process 50% of local output by 2027, focusing on vertically integrated supply chains and strategic partnerships.2. Nigeria: Nigeria’s production reached 236,000 tonnes in 2024, supported by over 400,000 smallholder farmers in Kogi, Kwara, and Oyo states. Only 7 of 12 processing facilities are fully operational, but incentives like tax holidays and technical training are encouraging growth in local processing. Even raising local processing to 30% could unlock hundreds of millions of dollars in additional revenue annually.
3. Tanzania: Producing over 220,000 tonnes in 2024, Tanzania’s cashew industry is concentrated in Mtwara, Lindi, and Ruvuma regions. While raw exports dominate, the government has committed $72 million to rehabilitate processing plants and aims to process 50% of local output by 2027.
4. Benin: With projected output of 225,000 tonnes in 2025, Benin has implemented a ban on raw cashew exports to boost local processing. Investments exceeding $150 million are supporting the Glo-Djigbé Industrial Zone, which is expected to process 150,000 tonnes annually and has already generated over 3,000 jobs.
5. Ghana: Production reached around 200,000 tonnes in 2022, driven by 400,000 smallholder farmers in Bono, Bono East, and Ahafo regions. While processing activities exist around Wenchi and Techiman, over 90% of cashews are still exported raw. New public-private partnerships aim to process 50,000 tonnes annually by 2027.
Africa’s cashew industry is more than just raw nut production; it’s a gateway to jobs, industrial growth, and global market opportunities. By investing in local processing and value addition, the continent can turn a missed opportunity into a thriving sector that benefits communities, entrepreneurs, and economies alike. The question is not whether Africa has the potential; it’s how quickly we act to seize it.