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Il Fondo ABC effettua il suo primo investimento, sostenendo una cooperativa di cacao in Costa d'Avorio

Publié le Lunedì, 13 Gennaio 2020

ABC Fund makes first investment, backing cocoa cooperative in Côte d’Ivoire

The Agri-Business Capital Fund (ABC Fund) has made its first investment. The ABC Fund, managed by Bamboo Capital Partners, in partnership with Injaro Investments, has invested in a cocoa cooperative based in Côte d’Ivoire-Socak Katana. This investment will help the cocoa farmers secure market access and revenue. Located in the North Western Region of Côte d’Ivoire, Socak Katana has over 2,700 members and procures raw cocoa from its members before processing, transporting, storing and selling the cocoa beans to local and international buyers. It provides other services including technical assistance and training of cooperative members. Currently, the cooperative has a total production capacity of 6,000 metric tons with a total of about 8,400 hectares under cultivation by the cocoa farmers. The cooperative is Fairtrade certified and 54 % of the cooperative’s cocoa farmers are UTZ certified. The investment will help secure revenue for smallholder farmers, by providing the cooperative with funds needed to buy their production. The cooperative also enables its members to earn a better price by benefitting from premiums under Fairtrade and UTZ certifications. It will also increase the number of people Socak Katana temporarily and permanently employs due to the increase in the volume of cocoa to be handled. This investment is a first step towards the ABC Fund’s goal to support rural employment and improve farmers’ livelihood in developing countries.

The ABC Fund was initiated by the International Fund for Agricultural Development in partnership and with funding from the EuropeanUnion, the African, Caribbean and Pacific Group of States, the Luxembourg Government and the Alliance for a Green Revolution in Africa. It is managed by Bamboo Capital Partners, in partnership with Injaro Investments.

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