ABC Fund Deploys More Capital To Support Agri-Businesses in West Africa
The Agri-Business Capital Fund (ABC Fund) is investing a total of EUR1.6 million in two companies in the shea sector, in Mali and Côte d’Ivoire.
The capital injection is into two shea butter processors – Mali Shi, based in the outskirts of Bamako, Mali, and Bio Amandes, in the northern region of Côte d’Ivoire.
Mali Shi is the first operational industrial-scale shea butter processing plant in Mali. It produces unrefined shea butter, which is used for the food and cosmetics industries. The company plays a crucial role in the value chain, sourcing its raw materials locally and promoting local transformation into shea butter. Shea collection is an important source of income for rural communities in Mali, especially for women. The investment in Mali Shi is a product of cooperation between IFAD and the ABC fund, leveraging on the IFAD network to help with identification of investees in line with the vision for the ABC Fund.
Photo courtesy of Carsten ten Brink.