Oikocredit invests in cashew cooperative, supporting nearly 5,000 farmers in Côte d'Ivoire
Cashew cooperative Cavica received its first international loan of EUR1.5 million from Oikocredit. The loan will support the work of 4,900 farmers in the northern rural areas of Côte d'Ivoire.
Coopérative avec Conseil d’Administration de Vivriers et de Cajou (Cavica) works towards alleviating poverty in disadvantaged communities in Côte d'Ivoire and supports the development of farmer entrepreneurship.
El Hadj Konate Arouna, Cavica’sChairman of the Board of Directors said: "After more than seven years of hard work and lack of support from many traditional banking institutions, we finally met Oikocredit in 2020. With the increase of working capital we are able to acquire the necessary logistics to achieve our business objectives and support improvements of the standard of living of farmers while achieving a higher social impact in the local communities.”
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