Hub’s Financial Advisor helps Ivorian rice processor access financing to increase processing capacity

The Hub’s Cereal Value Chain Specialist, Kokou Zotoglo and Finance and Investment Specialist, Charles Adegnandjou, inspecting packaged rice at the IMC-FC factory in Abidjan, Cote d’Ivoire. Photo credit: Kafui Djonou
Through its Financial Advisor network, the Trade Hub helped facilitate a 300 million West African Franc ($491,693) loan for Agricultural Management Company – Food and Commerce (AMC-FC), a major rice processor in Côte d’Ivoire. In addition to a previous $1.25 million Hub-facilitated loan, AMC-FC now has about $1.3 million to boost its processing capacity of paddy rice. This capital is being used to increase the company’s processing capacity to 60,000 tons by 2019, an increase of about 80% of the company’s processing capacity since it started operation in 2014. AMC-FC used the initial loan facilitated by the Hub to purchase processing equipment; the equipment has been ordered, with installment planned for April 2017. This additional funding, agreed in November 2016, will give AMC-FC the funds to purchase paddy rice which will be stored on-site for future processing and sale on the Ivorian market.

West Africa Trade and Investment Hub - Accra, Ghana - contact@watradehub.com
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