Social investor, Oikocredit, has provided a three year $3.5 million loan to agricultural processors, wholesalers and retailers of Valency Agro Nigeria, a subsidiary of international commodity traders, Valency International, to support the development of Nigeria’s cashew nut production and processing. According to report from the investor’s site, Oikocredit’s loan to Valency Agro Nigeria will help the company increase its procurement of raw cashew nuts and its capacity to transport, warehouse and process the nuts into high-quality cashew kernels for export.
The report noted that the investment would also sustain and create more permanent and seasonal jobs and aims to improve the livelihoods of smallholder cashew farmers and their families. Speaking on the development, Sunil Dhanuka, Country Head of Valency Agro Nigeria, said: “Oikocredit’s loan will support our expansion of production and processing…
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News Archive from before July 2018