Tolaro Global, a company specializing in the processing and wholesale of cashew nuts, has made an investment of 10.2 million dollars, or 5.8 billion CFA francs in the cashew nut sector. This investment will extend over three years.

The company based in Parakou in Benin, Tolaro Global, wants to expand its factory and intensify its activity of processing and selling cashew nuts. With this $10.2 million investment announced by the news site commodafrica, Tolaro Global aims to help approximately 3,863 cashew nut producers in Benin obtain certified organic qualifications, increase its processing capacity for cashew nuts to 8,000 tons and create new revenue lines by processing cashew apples and cracked cashew nuts into products that can also be exported. The funding is made up of $1 million from a co-investment grant from USAID's West Africa Trade&Investment Hub, with the balance funded by private equity and company-specific resources. As a reminder, Tolaro Global was created in 2008. It launched its first cashew nut processing unit in 2011 with a capacity of 6,000 tons.