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One year after the forced liquidation of Saf Cacao, number one trader

01/09/2019
Source : JeuneAfrique
Categories: General Information

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A year after the forced liquidation of Saf Cacao, the number one Ivorian trader with purchases of more than 200,000 tons (JA No. 3009), due to non-payment, the effects continue to be felt on the sector. Ranked in the top 5 after the giants Cargill, Olam, or Barry Callebaut, the company was dismembered. The Choco Ivoire sector was sold to the Café-Cacao Council (CCC), the industry's police officer, and
The Société Agricole du Café-Cacao (SACC) took over Cipexi and
SAF Cacao in exchange for a check of 165 billion CFA francs (252 million euros). Creditors were forced to accept a reduction of their debts. As a result, the banks that accumulated a large debt against the company no longer want to finance Ivorian traders. As a result, several of them had to reduce the volumes of beans recovered by multinationals.

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