• Funding to expand capacity, modernise plant, support women workers
• Project aims to boost local processing and target export markets

The West African Development Bank (BOAD) has approved a 6 billion CFA franc ($10 million) loan for Label d'Or SA, a Togolese company specializing in the processing of organic shea nuts. The decision was taken at the bank’s board meeting held March 25–26 in Dakar. The financing will be used to modernize the company’s industrial facilities and expand production capacity, benefiting 33 women involved in the value chain.

Located in Gbatopé in the Zio prefecture and inaugurated in February 2023, the Label d'Or plant was built at a cost of 1.8 billion CFA francs, co-financed by the company and USAID. The facility can process 30 metric tons of nuts per day, equivalent to about 4,300 metric tons of shea butter annually, with a target turnover of 7 million euros per year.

Label d'Or also receives support from the International Finance Corporation (IFC), the private-sector arm of the World Bank Group. The IFC has signed a technical assistance agreement covering financial management, ESG compliance and access to financing. The BOAD loan forms part of a broader effort to move the company up the value chain.

The company has yet to reach full capacity. To operate at maximum output, it must secure up to 10,000 metric tons of shea nuts over a short period, requiring significant financing. Competition for supply and export certification requirements also weigh on competitiveness.

Togo is one of Africa’s leading producers of shea nuts, with annual output of 20,000 to 25,000 metric tons, but most production is still exported in raw form. Label d'Or aims to strengthen the country’s position in certified processing, targeting U.S. and European markets where demand for organic shea butter remains strong in the cosmetics and food industries.

Fiacre E. Kakpo