AgDevCo, an impact investor with specialization in agribusiness, has invested US$3,000,000.00 in Kuapa Kokoo Limited (KKL).
The trade finance facility, according to the company, will allow the smallholder cocoa farmers organisation to purchase cocoa beans from its network of 100,000 farmers, all of who are multiple Fairtrade Certified (UTZ, RainForest, Fairtrade and Fairtrade USA).
The farmer-based organisation has also started an Organic Certification program.
Officials of AgDevCo say the move is to establish a long-term partnership with Kuapa Kokoo by supporting its preferred innovative work in modernising the Ghanaian cocoa industry for the benefit of its membership.
Kuapa Kokoo was established in 1993 following the liberalization of Ghana’s cocoa industry.
The company has the largest shareholding of 44% in the Divine Chocolate Company, which produces high-quality branded chocolate for UK and USA markets, made exclusively from Kuapa Kokoo beans.
Ghana is the second largest producer of cocoa in the world.
About a quarter of the population depends in some way or the other on the cocoa sector.
The Ghanaian government is committed to raising productivity, ensuring a fair price for farmers and finding ways to add value through local processing.
AgDevCo is an impact investor headquartered in London, specialising in agribusiness investments in Sub-Sahara Africa with a portfolio consisting of over 50 investments in production, processing and distribution companies.