La Compagnie Cacaoyère du Bandama
BIO has granted a EUR 11 M loan to La Compagnie Cacaoyère du Bandama, a cocoa processing unit located in Ivory Coast.
Amount
€ 11,000,000.00
Type of investment
Debt
Beneficiary locations
Investment field
Enterprises
Activity
Organisation
La Compagnie Cacaoyère du Bandama
Domicile
Compagnie Cacaoyère du Bandama SA is a cocoa processing unit located in the Ivory Coast with an annual capacity of 32,000 tonnes of beans. The factory was set up in 2020 and is equipped with the most modern processing machines. The beans are processed into butter and cake (powder) and soon liquor, and 100% of production is exported. CCB is a subsidiary of Eurofind Participation.
CCB aims at doubling its processing capacity up to 64,000 tons/year over the next 2 years and is committed to contribute to national targets for local processing. The project aims at contributing to greater domestic value addition and provide economic opportunities in a rural area. BIO will support the company in its efforts to improve plant’s E&S standards and to set up a traceable and sustainable supply chain.
E&S Impact
CCB and BIO agreed on an Environmental and Social Action Plan that aimed at improving E&S practices at the transformation plant, like the formalisation of E&S policies, improvement of working conditions for workers and third-party agents, and an upgrade of waste and water management.Furthermore, the plan encourages the company to collaborate more closely with its supply chain to manage the main risks, via the formalisation of relations with suppliers, the traceability as requested by the EU regulation, and the enhancement of the Bandama Program that supports smallholders farmers.
Current situation
CCB proved good E&S management regarding industrial practices, such as resource efficiency, and health and safety.
Risk Category: B+
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