EDFI Management Company Partners with Cajou Espoir to Enhance Sustainability and Social Impact
EDFI MC will provide technical assistance to Cajou Espoir to implement an Environmental and Social Action Plan
Brussels, 30 April 2024 – EDFI Management Company (EDFI MC) and Cajou Espoir have signed a technical assistance agreement aimed at fostering sustainability and adherence to the best environmental and social international standards. This agreement demonstrates the commitment of both companies to promote responsible business practices and drive a positive social impact in Togo.
The agreement between EDFI MC and Cajou Espoir strengthens the partnership between the companies. In July 2023, EDFI MC provided Cajou Espoir with a long-term loan of EUR 3 million through its investment facility AgriFI. As part of its technical assistance, EDFI MC will further provide a EUR 55,000 grant funding to the company which will enable it to implement an Environmental and Social Action Plan (ESAP). The ESAP encompasses various initiatives aligned with the seven IFC Performance Standards, including environmental management, social policies, and health and safety procedures. To ensure the successful execution of the ESAP, EDFI MC will engage an external consultant to execute several important parts of the plan. The EDFI MC technical assistance programme is entirely funded by the European Union.
Chief Executive Officer of EDFI Management Company, Rodrigo Madrazo stated – “The partnership between EDFI MC and Cajou Espoir exemplifies our shared commitment to advancing sustainability and effecting positive social transformation. Through the provision of both financial backing and technical assistance, our aim is to equip Cajou Espoir with the tools and knowledge necessary to uphold the highest environmental and social standards. As we play a pivotal role in mobilizing investments and establishing a strong track record, our success is realized when our investees become appealing to other investors.”
Jerome Poulin, Managing Director of Cajou Espoir, added, “This partnership with EDFI MC represents a significant milestone in our journey towards sustainability and social impact. We are committed to upholding the highest standards of environmental stewardship and social responsibility, while continuing to support our local communities.”
Cajou Espoir, a leading cashew processing company headquartered in Togo, has been at the forefront of sustainable agriculture since its establishment in 2004. Founded by two visionary entrepreneurs with a mission to alleviate poverty in rural areas of West Africa, Cajou Espoir operates two state-of-the-art production facilities in Tchamba and Blitta. With a strong commitment to organic production, fair trade practices, and community empowerment, Cajou Espoir has played a pivotal role in supporting local farmers and promoting environmental stewardship.
EDFI MC, known for its impactful blended finance activities, manages AgriFI, a EUR 120 million impact investment facility funded by the European Union. With a mandate to provide medium to long-term financing to private sector enterprises in developing countries, AgriFI focuses on supporting initiatives within the agri-food value chain and forestry, with a special emphasis on smallholder farmers. Through equity and debt financing, AgriFI has facilitated over EUR 41 million in investments across 16 transactions, benefiting more than 195 thousand smallholder farmers.
About EDFI Management Company:
EDFI Management Company (EDFI MC) is a multilaterally owned impact asset manager which delivers innovative development finance solutions that enable European DFIs, development banks and private sector investors to increase the scale and impact of their work. The company focuses on business models, technologies and geographies where other investors have not been able to operate at the desired scale given their resources and investment criteria.
For more information, visit www.edfimc.eu
About Cajou Espoir:
Cajou Espoir is Togo’s leading processor of raw cashew nuts, playing a crucial role in the country’s cashew value chain. With a focus on sustainable practices, the company is transitioning towards fully organic production and is committed to supporting local communities and enhancing livelihoods. For more information, visit https://www.cajouespoir.com/.
