In 2005, the Trade Hub co-founded the African Cashew Alliance with private and public sector partners across the industry and around the world. The ACA has brought the industry together leading to a $25 million grant in 2009 from the Bill & Melinda Gates Foundation for the African Cashew Initiative. With $25 million in cash and in-kind contributions from the industry, this $50 million project will increase farmer incomes, increase processing capacity and improve marketing of cashew in world markets.
The Trade Hub held yet another successful ACA conference, bringing together leaders from the world of cashew.
Mme Kone's enterprise has developed from a 2-person cashew processing activity to a full-blown cashew processing enterprise - in 5 years!
USAID/West Africa grants $146,000 to ACA to improve access to finance for cashew businesses (Press Release, Nov. 10, 2009).
Hundreds of thousands of rural farmers across West Africa earn income selling raw cashew nuts, roughly 90% of which are exported for processing elsewhere. Increasing local processing capacity would create tens of thousands of jobs, produce hundreds of millions of dollars in revenue and increase incomes poor rural farmers.