ABC Fund backs three West African agribusiness firms

 ABC Fund backs three West African agribusiness firms

The Agri-Business Capital Fund (ABC Fund), a blended finance impact funding platform, has committed small-ticket loans to three agribusiness organizations in West Africa to support their working capital needs and expansion.

The fund sanctioned two loans for organizations in the mango sector and one in the cereals segment.

The fund is managed by Bamboo Capital, Injaro and Agri Terra.

Kaworo-Burkina Faso

The ABC Fund provided a loan of €450,000 to Kaworo, a producer of grains (mainly maize, millet, sesame, cowpeas and sorghum) and seeds in Burkina Faso, to finance the purchase of grains for the 2021-22 farming season.

It currently has 525 outgrowers. Of these, 28% are women. The funding is likely to help add over 100 new farmers to the platform. In 2019-20, Kaworo produced a total of 1,753 tons of cereals.

EYF-Mali

Etablissement Yaffa et Frères (EYF), one of the largest mango exporters in Mali, has received €250,000 in working capital to purchase mangos and related export costs, to meet the increased European demand for the product.

The ABC Fund’s financing will enable EYF to continue buying mangos from its network of 310 farmers and employ 200 seasonal workers on the packaging site.

ROCFED-Ivory Coast

ROCFED, an exporter of mangos from Ivory Coast, has received a €300,000 loan from The ABC Fund.

It will use the loan to buy mangos from over 200 producers and to hire a few permanent staff and 130 seasonal workers for this year’s season.

Prior to these deals, the ABC Fund had backed three farmers’ cooperatives in Ivory Coast, three small-and medium agribusinesses in Burkina Faso and Ghana, and two financial institutions operating in Ecuador, Kenya and Uganda, which on-lend to smallholder farmers, for a total value of $11 million.

Vivek Sinha

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