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  • Benin: the country receives 10 billion; this is what they will be used for

    Mar 31st, 2024

    This is a boost to 10 billion for the development of the cashew sector in Benin. The country has just obtained financing of 10 billion CFA francs from the West African Development Bank. The reason behind this financing: the construction of an ambitious agro-industrial complex dedicated to the processing of this precious nut.

    Located in the Glo Djigbé economic zone, near Cotonou, this new industrial jewel will include no less than 5 hulling units with a cumulative capacity of 100,000 tonnes per year.

    It will also be necessary to add a 20,000 ton cashew oil extraction unit. A high-tech package that will make it possible to add value to the entire chain, from almonds to shells and residues transformed into charcoal, a real feat in terms of the circular economy.  For the authorities of Benin, this investment of 10 billion must be a giant step towards the emergence of a truly integrated cashew nut sector that creates local added value. A strategic issue for this country which is among the world's leading producers of this highly prized oilseed. Until now, Benin exported the bulk of its raw nuts, depriving its economy of the significant benefits of local processing. Now, thanks to financial support from BOAD, the situation will change. In the longer term, the goal is to make the Glo Djigbé industrial zone a real sub-regional cashew hub, by attracting other investors in the sector. Enough to finally allow Benin to fully benefit from this very high added value sector.