ECOM secures US$230M from IFC for its activities in West Africa
Côte d’Ivoire/Ghana – Agricultural commodities trader ECOM Agro-Industrial has secured US$230 million in financing from the International Finance Corporation (IFC) to support its cocoa trading operations in Côte d’Ivoire and Ghana.
As reported by AGRO, the IFC believes that this financing will help stabilize the supply chain and encourage other players in the sector to strengthen their balance sheets, stabilize their purchasing volumes from small producers, and intensify their investments in a sustainable supply chain in Côte d’Ivoire and Ghana, two of the world’s largest producers.
Demand for sustainable cocoa, particularly in European markets, has become a strategic issue for the industry, especially with the upcoming European Regulation on Imported Deforestation (EUDR) entry into force.
The upcoming European Regulation on Imported Deforestation, officially called the “EU Deforestation Regulation” (Regulation (EU) 2023/1115), aims to minimize deforestation and forest degradation associated with agricultural raw materials imported into the European Union and will fully apply from December 30, 2025.
The international financial institution said its support is accompanied by a strict framework that ensures that the beans purchased come from certified, traceable sources that respect the rights of agricultural workers.
The IFC said it had thoroughly assessed ECOM’s activities, including visits to cooperatives in Côte d’Ivoire and meetings with local stakeholders.
The transaction includes a US$200 million principal loan, renewable annually for four years, and a US$30 million subordinated loan, renewable after two years.
ECOM, which operates in 40 countries, is one of the leading players in the global coffee, cocoa and cotton trade. The company, headquartered in Switzerland, specializes in sourcing raw materials, their primary processing and distribution to consumer goods manufacturers.
In Côte d’Ivoire and Ghana, countries that account for more than 60% of global cocoa production, ECOM has set up a traceable and certified supply chain. During the 2023-2024 campaign, the group purchased nearly 150,000 tonnes of beans, 68% from communities benefiting from its support programs.
In Côte d’Ivoire, ECOM operates through its subsidiary Zamacom, which rents warehouses in San Pedro to store and export beans. In Ghana, the company relies on its subsidiaries Agroecom and Unicom Commodities, which buy cocoa directly from producers before transporting it to export ports under the supervision of the Ghana Cocoa Board (COCOBOD).
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