Lotte Group chairman Shin Dong-bin has announced steps to secure a large cacao purchase in Ghana and explore the South Korean multinational conglomerate’s potential expansion into Africa. 

The move signals Lotte’s interest in strengthening its global footprint, especially in the African market, where it currently has no retail presence, reports Korea Joongang Daily.

For decades, Lotte has sold its popular "Ghana Chocolate" in Japan and South Korea - for some 60 years in Japan and 50 years in Korea - but neither Lotte Wellfood nor Lotte Japan operates retail outlets in Africa.

Shin's recent visit to Ghana marked a strategic shift as Lotte signed an agreement with local cocoa farms to buy cacao beans in bulk, the key ingredient in chocolate production.

The partnership, named the “Cacao Bean Project,” aims to address broader social and economic issues in Ghana. 

“Parts of the profit will be directed towards building a better monitoring system to improve child labour conditions, developing agricultural education programs, and investing in local infrastructure,” the company said in a statement on October 10.

During his visit, Shin also held discussions with Wamkele Mene, the Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, on the company’s future in Africa. The meeting could signal Lotte’s intentions to tap into the growing African market, leveraging AfCFTA’s trade benefits.

While in Ghana, the chairman visited a cacao farm in Suhum, where he donated 130,000 cacao tree saplings. The gesture comes as Ghana, one of the world’s largest cocoa producers, faces challenges from a recent heatwave and disease outbreaks affecting its cacao trees. 

“Lotte Korea and Japan have decided to directly assist the farms as it will be difficult for Ghana to resolve the issue in the short term,” the company said, adding that Lotte will work with local partners to ensure sustainable cocoa production.

In a further display of its commitment to social responsibility, Lotte Wellfood announced plans to send volunteer teams from Korea and Japan to Ghana later this month. The teams will distribute "upcycled" notebooks and pencil cases to 4,000 students as part of a broader environmental, social, and governance (ESG) campaign.