Guinea-Bissau is moving to strengthen one of the foundations of its economy with the creation of the Cashew Company of Guinea-Bissau, SOCA GB SA.

The company was formally established in Bissau in March 2026, with the West African Development Bank (BOAD) providing 9.15 billion CFA francs in support and taking a stake in the company.

The initiative is designed to move the country beyond simply exporting raw agricultural products by increasing local processing and value addition in the cashew sector.

Cashew production is particularly important to Guinea-Bissau's economy. The World Bank reported that the country's economy grew by 5.8% in 2025, driven largely by a strong cashew campaign, while growth is projected to moderate in 2026.

The new company could therefore become an important vehicle for creating more economic value inside Guinea-Bissau, potentially supporting processing businesses, farmers and employment along the agricultural supply chain.

The move also comes as policymakers seek to diversify the economy and strengthen private-sector activity.

If investment in processing capacity expands, Guinea-Bissau could retain a larger share of the value generated by its cashew production rather than depending predominantly on raw-nut exports.

For the country's economy, the cashew sector is increasingly becoming a key battleground for investment, industrialization and job creation.