World Bank Group’s private investment arm, International Finance Corporation (IFC), is considering a $10 million investment to support cocoa sourcing and trade finance for France-headquartered agro-industrial group Touton in Nigeria.

According to investment information disclosed by IFC on September 22, 2026, the proposed investment will take the form of an unfunded risk participation in a $50 million uncommitted bilateral revolving transactional trade finance facility arranged by Banque Internationale de Commerce-BRED (Suisse) SA for Touton.

The facility, which remains pending approval, will finance the procurement and storage of traceable cocoa sourced from Nigeria.

Touton expands cocoa trade financing

Touton, a global trader of cocoa, coffee and vanilla, has operated for more than 150 years and maintains a presence across 15 offices worldwide. The group was recently acquired by Hartree Partners LP, a global commodity merchant. Touton Nigeria Limited operates as a critical localized subsidiary of the France-headquartered global commodity trading giant Touton SA. Legally incorporated in Nigeria in 1997, the Nigerian unit serves as a vital component of Touton’s broader African footprint, focusing on multi-commodity sourcing, logistics, and ingredient processing.

Cocoa accounts for approximately 75% of Touton’s total revenue, with the company purchasing around 350,000 metric tons of cocoa annually and accounting for roughly 8% of global cocoa trade. Nigeria is one of Touton’s primary global sourcing footprints, along with Côte d’Ivoire and Ghana. The group manages direct sourcing networks to secure premium cocoa beans for international markets and its processing facilities across West Africa.

Its annual cocoa trading volumes range between 300,000 and 400,000 metric tons of cocoa bean equivalents. Touton is also among the largest cocoa exporters from Côte d’Ivoire and a leading exporter from Cameroon, giving it an established sourcing and logistics network across major producing markets.

IFC targets Nigeria’s cocoa supply chain

The proposed financing will support trade transactions in Nigeria and provide short-term liquidity to the agricultural supply chain amid constraints affecting country and obligor limits for agricultural trade finance.

IFC expects the investment to improve smallholder farmers’ access to the cocoa market by supporting continued local sourcing of traceable, sustainably produced cocoa beans.

The financing is also expected to strengthen financial integration across Nigeria’s cocoa value chain by improving access to structured trade and working-capital finance.

Investment could strengthen Nigeria’s cocoa competitiveness

IFC said the project could reinforce Nigeria’s competitiveness in global cocoa markets by supporting local value addition and encouraging higher environmental and sustainability standards.

The $50 million facility will be provided by Banque Internationale de Commerce-BRED (Suisse), a Geneva-based subsidiary of Paris-headquartered BRED Banque Populaire. IFC’s proposed $10 million participation will be unfunded and disclosed.

The project is classified as FI-2 for environmental and social considerations and has a projected board date of October 22, 2026.

If approved, the facility would give Touton additional financing capacity to procure and store Nigerian cocoa while supporting the flow of working capital through one of the country’s key agricultural export value chains.