Telcar Cocoa, a leading cocoa trading company in Cameroon owned by the country’s richest woman, Kate Fotso, experienced a mild decline in its performance in 2022-23. The Cocoa-Coffee board (ONCC) reported a slight decrease in the company’s market share, dipping to 35.8 percent from 36.09 percent in the prior year.
The firm, which is affiliated with U.S.-based Cargill, recently acquired all assets of Ndongo Essomba, a major trader in the Centre region, Cameroon’s most productive cocoa area. It remains uncertain if the benefits of this acquisition have fully materialized or if challenges in other areas counteracted its impact.
Ongoing security concerns in the Southwest region, Cameroon’s second-largest cocoa-producing area and a key source for Telcar Cocoa, continue to challenge the company. Officials noted that in the 2022-23 season, significant unauthorized exports to Nigeria occurred in this region. Around 40,000 tonnes were illicitly transported, per ONCC, depriving local traders, especially Telcar Cocoa.
This season also saw heightened activity from other traders and local processors. Usicam, the second-largest exporter in 2021-2022 with a 19.6-percent market share, was overtaken by Oficam, which captured over 23 percent in 2022-2023. Meanwhile, third-place Sbet grew its market share from 9.9 percent to 11.4 percent over the two seasons, as per ONCC.
Additionally, the 2022-2023 season marked a 2.7-percent increase in locally processed volumes, in part due to Africa Processing’s market entry, which amplified competition for cocoa bean acquisitions.
Fotso is the current CEO of Telcar Cocoa. Based in Cameroon, Telcar Cocoa has been the country’s largest cocoa export company for over 30 years. Fotso is widely regarded as Cameroon’s richest woman with a fortune Billionaires.Africa pegs at over $50 million.
