Oikocredit invests € 2.7 million in Africa Negoce Industries to support Benin cashew value chain
The loan to the cashew processing company will sustain up to 500 jobs and support the work of 2500 cashew producers in Benin
Social impact investor and worldwide cooperative Oikocredit has provided a credit line of € 2.7 million to Africa Negoce Industries (ANI), a cashew trading and processing company in Benin.
ANI will use the new credit line provided by Oikocredit for procuring and storing raw cashew nuts and for processing the nuts into white cashew kernels for export.
ANI works with upwards of 2500 farmers organized in federations of cooperatives, supporting farmers through a range of innovative resources, toolkits and programs.
ANI’s resourceful support sees the distribution and open access to agricultural and educational toolkits, pesticide protective equipment, as well as UTZ verification programs and employment by offering 50 permanent and 460 seasonal jobs.