Tolaro Global Cashew Factory Expansion, Benin
Tolaro Global is the 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 almost USD 4 million. The company buys raw cashews from 7,000 smallholder farmers and employs more than 650 workers, thus creating significant economic impact in Benin.
The CFC is financing the company’s expansion plans. The project entails the acquisition of equipment to increase the processing capacity of Tolaro from 3,500 MT in 2018 to 20,000 MT by 2023. The number of farmers delivering raw cashew nuts to Tolaro is expected to increase from 7,000 to 15,000 by 2023. The number of factory jobs is expected to increase from 650 to 1,500 over the same period.
Parakou, Benin (LDC)
Tolaro Global USD 464,637, other financiers USD 3,500,000
Year of Implementation