Oikocredit € 4 million loan to TAN Mondial to support Côte d’Ivoire cocoa and cashew cooperatives

Amersfoort, the Netherlands – Social impact investor Oikocredit has provided € 4 million in credit to leading soft commodity trading company TAN Mondial and its local affiliate, TAN Ivoire, to underpin TAN’s operations growth in partnership with Ivorian smallholder cooperatives.

This strategic three-year financial collaboration will facilitate TAN’s sourcing of certified cocoa beans and traceable cashew nuts from smallholder farmers and cooperatives in Côte d’Ivoire and strengthen the company’s sustainability programmes in the West African country. TAN Ivoire, which connects Ivorian cooperatives and smallholders to global markets, aims to achieve Rainforest Alliance certification for the produce.

The partnership is expected to assist close to 3,000 smallholder cocoa and cashew growers in gaining access to a reliable market for their produce and their integration into a certified supply chain, resulting in a notable improvement in their income levels.  

Sumit Kumar Paul, TAN’s Group CEO, commented: “TAN Ivoire has been dedicated to transforming agricultural networks through implementing sustainable, traceable and inclusive value chains over the last 18 years. We are excited to partner with Oikocredit to deepen our efforts to improve rural incomes in Côte d’Ivoire at the farmer and cooperative level, expanding our certification programmes, our cocoa and cashew farm-gate initiatives, and our community engagements.”

Yves Komaclo, Oikocredit's Investment Manager for West Africa, said: “We are very happy to support TAN, a leading commodity market player, for the coming years in Côte d’Ivoire. Our partnership will help sustain a key market outlet for more than 200 cocoa and 130 cashew producer cooperatives.”

About TAN Mondial and TAN Ivoire

TAN Mondial is the Singapore-based holding company of a vertically integrated multi-entity agricultural supply chain and ingredients group operating across Africa and Asia. A key player in the agricultural soft commodity markets of West Africa, India, Vietnam and Singapore, TAN Mondial has established itself as a preferred supplier to processing multinationals in Africa, Asia and Europe.

TAN Mondial and TAN Ivoire have been active for 18 years in the cocoa, cashews, rice, sesame, shea nut and coffee sectors, exporting to leading European and Asian buyers. Central to TAN’s success is its practical knowledge of the sub-Saharan terrain and its commitment to social responsibility, sustainable practices and strong bonds with local communities.

For further information, visit www.tanmondial.com.

About Oikocredit

Social impact investor and worldwide cooperative Oikocredit has nearly five decades of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

Oikocredit finances more than 500 partners, with total outstanding capital  € 1,084.7 million (at December 2023). For more information, visit www.oikocredit.coop.

-Ends-

Note for editors

For more information or to request an interview, please contact: Viviana Cordero, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: vcordero@oikocredit.org.