Finnfund Boosts Sustainable Avocado Farming In Tanzania

Wednesday, February 6, 2019

Finnfund, a Finnish development finance company, provides a EUR 2.5 million secured loan to Africado, a Tanzanian avocado producer.

Sustainable avocado farming is a viable alternative for Tanzania’s Kilimanjaro region farmers whose livelihoods have been shaken by the plunging price of coffee.

The price of coffee has fallen sharply in recent years primarily due to expanded production in Brazil and Vietnam. The impact is felt also in Tanzania’s Kilimanjaro region where coffee farming has long been an important source of livelihood. Now local farmers are urgently seeking alternative crops.

Photo courtesy of slgckgc.

Source: busiweek (link opens in a new window)

development finance