New tool boosts SME financing in West African cashew sector

Published 2024년 12월 20일

Tridge summary

A partnership between CBI and Oikocredit has launched the 'Cash-flow Let Cashew Flow' tool to help cashew processors in West Africa, particularly in Côte d'Ivoire, improve their financial management and efficiency. This initiative aims to address the challenges these processors face in securing financing due to factors like informal trading, lack of financial knowledge, and poor record-keeping. The tool has shown promising results in a pilot phase with two large cashew processors, indicating its potential to transform the cashew industry and possibly other agricultural sectors. The next step includes the creation of training materials by GIC-CI, with potential further exploration of the tool by Oikocredit in other areas.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Finding reliable financing is a major challenge for cashew processors in West Africa. To solve this problem, CBI and Oikocredit piloted a new tool called "Cash-flow Let Cashew Flow". This tool helps cashew processors improve their financial management and efficiency. It has already shown great potential to transform the cashew industry. The promising outcomes of this pilot project could benefit other agricultural smallholders within and beyond the cashew sector. Addressing the financing problem Building stronger and more sustainable sectors requires small and medium-sized enterprises (SMEs) to have access to finance. Cashew processors in countries like Côte d'Ivoire often struggle to get the funds they need, such as working capital. Problems like informal trading, lack of financial knowledge, and poor record-keeping make them less eligible for loans. In November 2022, Côte d'Ivoire's cashew sector association (GIC-CI) shared these concerns with CBI. In early 2023, CBI asked ...

Source: CBI - EU