🌿 Transforming the Cashew Industry in Cote d’Ivoire! 🌿 Traditionally, cashews from Cote d’Ivoire are exported raw for processing in Vietnam and India before being shipped to end markets in Europe and the US, making for a lengthy and costly journey 🌍 🚢 With a €9 million investment from Norfund investee AgDevCo, Cashew Coast is set to double its processing capacity to 19,000 tonnes annually. This expansion will not only boost local employment, benefiting the 750 employees and over 7,000 smallholder farmers, but also ensure higher prices for fully traceable, organic cashew nuts. Norfund is already invested directly in local cashew processing in Cote d’Ivoire since 2022 through Valency International Trading SARL, a subsidiary of Valency International Pte Ltd. which will soon commission a 45000 tons RCN processing plant on the outskirts of Abidjan. These consecutive investments, continue to demonstrate Norfund commitment to its development mandate - creating value at origin in our respective markets in West Africa.
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Fantastic update!
Senior Engineer
2moWell done!