LONDON, UK — AgDevCo is pleased to announce an investment in Kuapa Kokoo Limited, the only licenced cocoa buying company in Ghana which is owned by a cooperative of Ghanaian smallholder cocoa farmers.
AgDevCo’s $3.0 million trade finance facility will allow the company to purchase cocoa beans from its network of 100,000 farmers, all of whom are multiple certified (UTZ, RainForest, Fairtrade and Fair Trade USA). Kuapa Kokoo has also started an organic certification programme.
Kuapa Kokoo was established in 1993 following the liberalization of Ghana’s cocoa industry. The company holds the largest shareholding (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.
Chris Isaac, AgDevCo’s Managing Director for West Africa said: “AgDevCo looks forward to building a long-term partnership with Kuapa Kokoo and supporting the company’s innovative work to develop the Ghanaian cocoa industry for the benefit of its membership.”
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.
