One of Nigeria’s largest cocoa exporters and a top five non-oil export contributor, Sunbeth Global Concepts Limited, has secured approval to establish a ₦200 billion Commercial Paper Programme and launched up to ₦100 billion in Series 1, 2 and 3 issuances under the scheme.
Structured across 180-day, 270-day and 364-day tenors, the offer is aimed at financing contractual working capital requirements, including inventory procurement and the execution of physical and hedged offtake obligations within Sunbeth’s export operations.
The offer opened on Friday, 27 February 2026 and will close on Thursday, 5 March 2026, with allotment and settlement scheduled for Friday, 6 March 2026. It is available at a minimum subscription of ₦5 million and in multiples of ₦1,000 thereafter. The commercial papers will be quoted on FMDQ and/or NGX.
Established in 2017, Sunbeth has exported more than 200,000 metric tonnes of cocoa beans and 60,000 metric tonnes of cashew nuts to international markets. In 2025, the company recorded revenue exceeding ₦600 billion, underlining its scale within Nigeria’s agricultural export sector.
The company works directly with more than 30,000 farmers and partners with over 250 local buying agents nationwide. Its global strategic partners include Cargill, GCB Group, JB Cocoa, Touton, Macquarie and StoneX, enabling diversified offtake and access to markets across Europe, Asia and the United States.
Nzubechukwu Anisiobi, Chief Operating Officer of Sunbeth Global Concepts Limited, said the programme reflects the company’s disciplined capital strategy and strong credit fundamentals. Speaking on the issuance, he noted: “The establishment of our ₦200 billion Commercial Paper Programme reflects our disciplined capital strategy and solid credit profile. In a working capital-intensive export business, access to structured short-term funding strengthens liquidity, supports efficient contract execution and preserves balance sheet stability.”
Further emphasising investor confidence in the company’s governance and risk framework, he added: “The Programme underscores the confidence the capital markets have in our governance standards, earnings resilience and robust risk management discipline.”
Sunbeth is rated A2 by DataPro and GCR (Short Term), A by DataPro and BBB+ by GCR (Long Term). The ratings reflect its leading position among Nigeria’s major cocoa exporters, strong revenue base, sound earnings trajectory, solid capacity to meet obligations and experienced management team.
The company operates an integrated model covering sourcing, warehousing, logistics, structured hedging and export execution. It maintains diversified offtake agreements and price risk management frameworks designed to reduce earnings volatility and protect against downside exposure.
With global cocoa demand on the rise and Nigeria seeking to deepen its non-oil exports, the commercial paper programme positions Sunbeth to consolidate its leadership in the agricultural commodities market.
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