CASHEW INDUSTRY IN BENIN: TOLARO GLOBAL PLANT RECEIVES FINANCIAL SUPPORT FROM BENINCAJU GRANT FUND (FIDE)
In 2016, the BeninCajù project for the integration and acceleration of the cashew sector in BENIN, funded by the USDA and implemented by TechnoServe in partnership with CRS was launched. With producers, processors, cashew industry professional associations, and public structures concerned with cashew industry development as beneficiaries, the overall objective of BeninCajù is to strengthen and expand the cashew industry and make it a more productive and profitable sector for Benin's socio-economic development. The results of BeninCajù's activities will be an increase in the volume of cashew nuts processed, an increase in the volume of sales of cashew products, an improvement in the yield and income of producers, large-scale job creation, and maximum value added from cashew by all stakeholders. The Access to Finance component builds the capacity of small and large financing institutions, as well as the capacity of stakeholders in financial management and education, in order to prepare them to receive financing and manage it well, and to link stakeholders with financing institutions.
As such, the company TOLARO GLOBAL is a beneficiary of the Fund for Innovation and Enterprise Development (FIDE) through the project BeninCajù following a call for projects under the second cohort. It was selected by BeninCajù for its project of acquisition of several equipments among which a line of dry roasting and a line of packaging for flours and cashew butter. These equipments will allow TOLARO GLOBAL to valorize the unprofitable broken almonds, which are less sold than the whole ones, into cashew flour and cashew leg/butter beyond the traditional transformation and to answer to existing needs, which were ignored until now.
BeninCajù has contributed to the acquisition of this equipment to the tune of CFA francs 125 million. On December 8, 2020, these materials were officially received at the TOLARO factory in the presence of various officials of the project and the factory including the General Manager, Mr. Serge KPONOU.... More details here.