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Cashew nut processing in West Africa: Access to credit, a major obstacle to the development of the sector

06/12/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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The Prosper Cashew Initiative aims to increase the volume of cashew processing in West Africa with funding. But its implementation poses problems in terms of access to finance, the major obstacle to the development of the sector. To do this, Prosper Cashew initiated a meeting to connect processors with financial institutions

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Prosper Cashew organized a forum where representatives of commercial banks, impact funds, guarantee funds, the Cotton and Cashew Council (CCA, regulator) and key actors came together to discuss innovative mechanisms in terms of financing of the industrie du cajou . The objective of the Prosper Cashew Initiative is to facilitate a constructive dialogue between the various parties, in order to explore possible solutions to set up targeted financing instruments and promote a better understanding, by banks, of the cashew industry

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According to Sarah El Ouadili, Capital Investment Lead at TechnoServe, “exchanges aim to set up “financing mechanisms capable of effectively supporting manufacturers, in compliance with the prudential standards applicable to credit institutions.”

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