Symbiotics and Oikocredit invest in ETG to support West Africa cocoa and cashew value chains
The loan will help create an additional 200 jobs and support the work of 70,000 smallholder farmers in Cote d’Ivoire, Ghana and Nigeria
Symbiotics and Oikocredit have extended a loan of US$ 30.8 million to Agri Commodities & Finance FZ-LLC, the main trading company of the UAE-based Export Trading Group (ETG).
ETG is a global leader in the agriculture commodities market, offering the collection of agriculture products and supply chain solutions across five continents. The loan will support growth in ETG’s cocoa and cashew operations in West Africa for the next three years.
Yves Komaclo, Oikocredit's Investment Manager for West Africa, stated: "We are very pleased to support ETG, as their focus on smallholder farmers aligns well with Oikocredit’s mission. Our collaboration will help sustain a market outlet for cocoa and cashew farmers, then in turn, improve livelihoods of farmer communities and contribute to the professionalisation of affiliated farmer organisations.”
- 30 November 2021 - IDH Farmfit Fund and Oikocredit co-investment in Aldea Global to support Nicaraguan coffee smallholders
- 17 November 2021 - Symbiotics and Oikocredit invest in ETG to support West Africa cocoa and cashew value chains
- 16 November 2021 - Q3 2021 quarterly report: Cautious optimism
- 16 November 2021 - Mirjam ‘t Lam appointed Oikocredit’s Managing Director
- 15 November 2021 - Oikocredit partners Crecer and Fonkoze shortlisted for European Microfinance Award 2021 for Inclusive Finance and Healthcare
- 05 November 2021 - Oikocredit holds general meeting in December
- 04 November 2021 - Capacity building for agriculture [interview]
- 03 November 2021 - Oikocredit expands its financial inclusion portfolio with the latest investment in Senegal
- 01 November 2021 - Oikocredit and Opportunity International announce impact investment of USD 100 million to advance education in low-income countries