Tolaro Global Cashew Factory Expansion, Benin

Tolaro Global is a leading cashew process­ing company in Benin. Founded in 2010, the company processes and exports more than 3,500 metric tons (MT) of cashews to premium markets in Europe and the United States, with a value of nearly USD 4 million. The company sources raw cashews from 7,000 smallholder farmers and employs more than 650 workers, thereby generating significant economic impact in Benin. The CFC financed the company’s expan­sion plans. The project involved the acquisi­tion of equipment to increase Tolaro’s processing capacity from 3,500 MT in 2018 to 20,000 MT by 2023. 

The investment was intended to generate broader development impacts by strengthening market access for up to 15,000 farmers, thereby stimulating local cashew production and supporting diversification of the regional economy. It was also expected to contribute to greater value addition through certifica­tion (Fair Trade and Organic), improved farmer incomes through premium prices, increased employment – including greater female representation in management – and enhanced environmental sustainability through the full reuse of cashew shells for biomass energy.

SDGs