AFRICA'S NO.1 FOOD, BEVERAGE & MILLING INDUSTRY MAGAZINE

Cashew Watch Ghana launched to advocate for growth of sector

Jul 21, 2021Jul 21, 2021 Editor

GHANA – The Cashew Watch Ghana (CWG), a new civil society organisation has been inaugurated in Ghana to champion the growth and development of the cashew industry in the country. CWG has been formed to promote revolution in the commodity space through advocacies for the formulation and implementation of national policies, that would transform the industry as a vehicle to push rapid socio-economic growth and development. Among other objectives, the network seeks to advocate competitive price for the commodity for the betterment of all the value chain actors, reports Ghana…

Global nuts supplier RRF, USAID to boost West Africa’s cashew nut value chain with US$3m investment

Jul 14, 2021Jul 21, 2021 Editor

WEST AFRICA – Red River Foods (RRF), a leading global supplier of nuts, seeds, dried fruit, and specialty snacks, has entered into a US$3 million co-investment partnership with the USAID-funded West Africa Trade & Investment Hub (Trade Hub), to build a sustainable root to market channel for West Africa’s cashew nut produce into the U.S. market. This partnership builds on the U.S. Government’s Prosper Africa initiative to increase two-way trade and investment between the United States and Africa, as nearly US$32 million in exports are anticipated from activities to boost…

Zambia seeks to partner with potential investors in establishment of mango, tomato, cashew nut processing plants

Jul 5, 2021Jul 5, 2021 Editor

ZAMBIA – The Zambia Development Agency (ZDA) has intensified its investment promotion efforts by raising a call for potential investors to take part in the establishment of a cashew nut processing facility worth US$5 million. The modern processing plant, to be located at Chilanga area in Lusaka, is set to produce cashew kernels for the domestic, regional and international markets. According to ZDA, the project will take advantage of the abundance of cashew nuts in Zambia, capitalise on availability of affordable and trainable labour force and benefit from the existence…

Olam Foods Ingredients scales up efforts to enhance sustainability in global cashew supply chains

Jun 23, 2021Jun 23, 2021 Editor

UK – Olam Food Ingredients (OFI), has published new targets aimed at making the global cashew supply chain more sustainable and rewarding to the farmer. According to OFI, despite cashews being in high demand, cashew farmers are among the poorest in the world with no enough income to feed their families, afford much-needed healthcare or send their children to school. Through its new sustainability targets, OFI hopes to change this narrative and encourage others in the sector to collaborate for measurable change. The Cashew Trail strategy sets 2030 targets across OFI’s cashew business – in line with the United…

Zambia, World Bank boost cashew nut production with launch of US$32.8m project

Jun 12, 2021Jun 12, 2021 Editor

ZAMBIA – Zambia has partnered with the World Bank to undertake a US$32.8m cashew nut plantation initiative in the Easter Province of the South African country. The Zambia Integrated Forest Landscape Project (ZIFLP) aims to provide support to rural farmers, as well as to allow them to better manage the resources of their landscapes. The project’s focus is to reduce deforestation and unsustainable agricultural expansion, and enhances the benefits received from forestry and agriculture, in the quest to combat climate change. Once fully operational, ZIFLP will transform the economic statuses…

Zambian palm oil processor Zampalm increases local production while regulatory body ZABS supports cashew farmers

May 27, 2021May 27, 2021 Editor

ZAMBIA – Zampalm, subsidiary of Zambia’s national development finance institution, the Industrial Development Corporation (IDC), is seeking to boost production of crude palm oil in the country, by on-boarding 1,000 beneficiaries into its out-grower scheme. The oil palm out grower scheme, was commissioned in 2019 by President Edgar Chagwa Lungu, to increase domestic production of palm oil and its by- products, in a bid to meet the rising local demand. According to Zampalm General Manager, David Subakanya, the processor targets to cultivate over 5,000 hectares by 2025 through the out-grower…

Nigeria’s Agvest Limited to list US$12.1m cashew nut contracts to raise funds for expansion

May 19, 2021May 19, 2021 Editor

NIGERIA – Agvest Limited, Nigerian agricultural value chain player, is seeking to list cashew nut contracts worth N5 billion (US$12.1m) through diversified financial instruments. The AgGroup is a group of interrelated companies with investments primarily along various crop and livestock value chains of the agricultural sector. Its investments span across microfinance, fund management, farming, food processing, communication and food retail/distribution. In readiness for the listing, Lagos Commodities and Futures Exchange (LCFE) has successfully screened the frontline player. According to reports by This Day Live, financial instruments worth N1.5 billion (US$3.6m)…

State-owned TADB seeks to partner with local cashew nut, grapes sub-sector players to enhance productivity

Apr 28, 2021Apr 28, 2021 Editor

TANZANIA – Recognizing the opportunity in the cashew and grapes sub-sector, the Tanzania Agricultural Development Bank (TADB) is setting out to support investment in the sub-sectors through a Processor – Producer Partnership Project. To this end TADB has called for submission of proposal from sector players who will follow a market-led and demand driven private sector development approach. In line with the bank’s Integrated Agricultural Value Chain Financing (IVCF) Model, key stakeholders in the project will include producer groups (smallholder farmers, women and the youth), input and technology suppliers, research…

West Africa to earn US$1.5 billion from sale of cashew, spearheaded by new USDA, TechnoServe programs

Mar 1, 2021Mar 1, 2021 Editor

WEST AFRICA – TechchnoServe, an international non-profit organization has received two grants from the U.S. Department of Agriculture (USDA) to support the development of the cashew sector in Benin, Côte d’Ivoire, Ghana, and Nigeria. The support will enable the expansion of the BeninCajù project in Benin and launch of the new Prosper Cashew program in Côte d’Ivoire, Ghana, and Nigeria, which will help drive change across this important value chain, benefitting thousands of farmers and others employed in the sector. According to TechnoServe, the five-year Promoting Opportunities for Cashew Processing…

Nigeria’s cashew value chain eyes US$10m investment opportunities triggered by USDA West Africa support

Feb 19, 2021Feb 19, 2021 Editor

NIGERIA – The United States Department of Agriculture (USDA) West Africa through its PRO-Cashew Project, has inked a Memorandum of Understanding (MoU) with the Federal Government of Nigeria to develop the nation’s cashew industry. The initiative is aimed to improve productivity and expand the national hectarage of the commodity, towards achieving national food and nutrition security, revenue generation, exchange earnings, wealth creation, and employment in the country, reports Vanguard. It is expected to catalyse up to US$10 million investment opportunities, create jobs, strength public and private partnership, improve trade, as…