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.”
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