Niche Cocoa Industry Ltd
Niche Cocoa produces high quality semi-finished niche products including organic and fair-trade products: cocoa liquor; cocoa butter ; natural and alkalised cocoa powder. The company sources its raw beans from Ghana Cocoa Board (COCOBOD) and exports its products globally.
Amount
€ 4,300,000.00
Type of investment
Debt
Development impacts
- Local economic growth
- Private sector consolidation/innovation
- Food security & rural development
Beneficiary locations
Investment field
Enterprises
Activity
Agribusiness - Cocoa
In 2015, Niche set about to develop a new product line targeted at the local market: bars of chocolate and chocolate for toppings. This will create added value within the country. The company has an important direct impact on employment creation, as it offers over 400 jobs in the factory. Moreover, at its maximum production rate, Niche sources cocoa beans from approximately 30,000 farmers, securing them with a steady off-take of their produce. BIO is proud to support Niche in this ambitious plan and contribute to the further establishing of Ghana as a leading country in cocoa production. With a long term loan of EUR 4.3 million, Niche will be able to finance the expansion plans without putting at risk the daily operations and sourcing of cocoa beans.
BIO’s 2011 loan finances the acquisition of a second press to transform cocoa liquor into cocoa butter and powder. This second press allows for production capacity to be doubled from 1,000 tons to 2,000 tons per month. The augmented production allows Niche to have enough butter and powder to respond to the demand of export clients and to develop its own chocolate production unit. Niche will become the first company in the industry able to deliver a finished product in Ghana, destined for the Ghanaian market.
BIO’s loan is helping an innovative project with a long-term impact on the local population. It is a local Ghanaian initiative that will produce for the local market. NICHE uses local resources and creates value in the country of origin.
The production plant is located in the Tema Export Processing Zone, which has an EPA approved waste-water treatment facility. Moreover, NICHE’s facility and equipment have been designed in accordance with the latest standards for cocoa processing efficiency and environmental requirements were addressed in the design stage.
Development impacts
-
Local economic growth
90 permanent jobs; processing of beans locally;
Niche will work with fairtrade cacao farmers; this is a gradual process and the share of fairtrade and organic farmers will increase once NICHE found a fairtrade and organic market;
The company will export globally; the aim is to export to emerging markets such as japan and china
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Private sector consolidation/innovation
Niche products: Fairtrade and organic cacao semi-finished products: butter, liquor and powder; locally produced
Local processing of cacao products. Niche will be the first 100% private Ghanaian cocoa processor in Ghana
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Food security & rural development
Niche indirectly supports thousands of farmers and seeks to increase its organic and fairtrade production.
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