Finance

Oikocredit invests in cashew processor Anatrans in Burkina Faso

Tuesday, 13 November 2018 19:59
Oikocredit invests in cashew processor Anatrans in Burkina Faso

(OIKOCREDIT) - Burkinabe cashew processor Anatrans has welcomed social impact investor Oikocredit as a new shareholder, in a transaction that saw Dutch headquartered Oikocredit make a €2 million investment in Anatrans.

Anatrans is one of Burkina Faso’s leading cashew processors. It sources nuts from the local community and supplies fair trade, organic and conventional cashews to international markets. Anatrans benefits from the trading network of its main shareholder, Trade Development Group (TDG).

Via links with farmer groups and cooperatives Anatrans maintains year-round relationships with 3,500 cashew producers. It has supported producer groups since 2008 by offering technical assistance in collaboration with NGOs. Anatrans also employs approx. 1,500 people.

Oikocredit has over 40 years of experience funding organisations active in inclusive finance, agriculture and renewable energy. Oikocredit’s loans, investments and capacity building aim to enable people living on low incomes to sustainably improve their living standards. Oikocredit finances around 800 partners in 70 countries, with total outstanding capital of € 971.5 million.

Evert Ludding, Oikocredit’s equity investment manager for Africa, has joined Anatrans’ board of directors as the new investor’s representative. Ludding said: “This investment furthers Oikocredit’s strategy to support sustainable agri-processing companies with a view to benefitting smallholder farmers. This exciting partnership with Anatrans and TDG fits well with Oikocredit’s emphasis on social impact. Anatrans’s support of organic farming also aligns with Oikocredit’s commitment to safeguarding the environment.”

Gerard Klijn, CEO of TDG in the Netherlands, said: “It is fantastic to see a true partner entering the cashew business with us, and surely the additional competencies will strengthen the business. I trust it will encourage more investments into the cashew sector, and even catalyse other initiatives to strengthen the local processing industry.”

Harm Voortman, Anatrans’ CEO in Burkina Faso, said: “We are excited to partner with Oikocredit and to start a new chapter together. The investment by Oikocredit will allow Anatrans to expand its operations and to further its work in building a sustainable cashew value chain in Burkina Faso.”

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