Geneva’s commodity trading and Africa: a long-standing relationship

The relations between Geneva’s commodity trading and Africa, which Part I will explore in greater depth, go back to the years that followed independence. The new African states, producers of oil, cocoa, coffee, cotton, copper or gold, needed intermediaries to market their output and to finance their imports. Geneva’s traders, drawing on their neutrality, their banks and their French-speaking networks, took up this position.

This relationship has taken a variety of forms: contracts for the purchase of national output, pre-financing granted to national companies against future deliveries, the supply of refined products and foodstuffs, and equity stakes in infrastructure. It has provided African countries with markets and financing, and traders with margins and dominant positions. It has also given rise to corruption cases and to criticism of the distribution of profits, which Parts H and I will examine.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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