2023-07-21 06:04:24
(Beninese cashew opportunities presented to financial institutions)
The Benincajù Project for the Integration and Acceleration of the Cashew Sector in Benin, funded by the United States Department of Agriculture (USDA) and implemented by TechnoServe, organized this Thursday, July 20, 2023 at the Golden Tulip Hotel in Cotonou, a workshop with banks, guarantee institutions, cashew processing factories and cashew apple processing units and TechnoServe. The objective is to discuss issues related to the financing of the cashew sector in Benin.
Abdul Wahab ADO
Through the Benincajù Project, TechnoServe makes every effort to boost and reveal the cashew sector in Benin. It is within this framework that this 3rd edition of the workshop on “Opportunities for financing cashew processing in Benin with good control of specific risks” takes place.
On the occasion of the launch of the exchanges, Maïmouna Mbacke, Country Director of TechnoServe indicated that “this 3rd edition of the workshop with banks on cashew processing in Benin is an opportunity to discuss, exchange and further strengthen knowledge on the issue of financing the cashew sector in Benin, particularly the financing of the local processing of raw nuts as well as the cashew apple which is also a national priority”. Country Director of TechnoServe specifies that: “The Benincajù project is proud of the partnership initiated more than five years ago and which is developing with the Professional Association of Banks and Financial Institutions of Benin (APBEF-Benin) so that in a synergy of actions, the bases are created for sustainable and effective risk management for a successful investment in the local processing of cashew products in Benin. (…) TechnoServe, through the Benincajù project, remains convinced that success will only be achieved through concerted joint initiatives conducted in an approach of complementarity and synergy.
The exchanges of varied and diverse experiences should make it possible to better identify the requirements related to the sustainable and appropriate financing needed by this priority value chain which occupies a prominent place in the action program of the Government of Benin. Successful financing in the cashew sector means successful financing in the development of the local economy and in the creation of jobs for hundreds of women and men”. , contribute effectively to the financing of cashew processing into various products and by-products for local, sub-regional and international markets. It also aims to reflect on the development, with credit institutions, insurers and guarantee funds, of financial services products adapted to the needs and realities of the sector. “We all know that financing agriculture is difficult because of the risks it entails and the large financial volumes it requires. But the biggest difficulty comes mainly from the lack of trust between farmers and bankers. At APBEF, we share the concerns of banks to avoid the difficult situations in which many of them have found themselves in the past. However, our role is also to support development actors, in particular TechnoServe, which proposes, following two previous editions of 2016 and 2017, to strengthen the knowledge of banks in financing and risk management for better investments in the cashew industry in Benin”, added the representative of APBEF-Benin. It should be noted that various communications were presented to the participants. Communications focus on: cashew production, component activities; financing opportunities, needs of processors, identification of specific financing risks and how to manage them, business links; integration of technology in the activities of Bénincajù; walnut processing, basic principle, supply chain, by-products and markets, creation of wealth and jobs; apple processing, basic principle, supply chain, by-products and markets, creation of wealth and jobs; Food safety, standards and certification in local and international markets. Cashew productions in Benin from 2013 to 2023 were presented to the participants. At this meeting between banks, guarantee institutions, cashew nut processing factories and cashew apple processing units and TechnoServe, the expectations of the participants were collected during the exchanges. “It is a source of pride for the sharing of difficulties” confided the participants met at this information and training workshop. An exhibition and a tasting of processed cashew products furnished the exchanges. TechnoServe for the development of the cashew sector in BeninThe Benincajù project aims to facilitate access to financing for beneficiaries. Thus, funding of nearly 10 billion CFA francs, or more than 16 million dollars, has been mobilized for cashew stakeholders. TechnoServe is currently implementing two major projects in Benin, including Benincajù, which currently has more than 400,000 beneficiaries. As a reminder, TechnoServe is an American international for-profit organization that works with entrepreneurs in developing countries to create competitive farms, businesses and industries.
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juillet 21, 2023
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