Tanko Timati wants to raise CFA250 million by June 2018, to finance its expansion

Economic governance
Monday, 19 March 2018 18:49
Tanko Timati wants to raise CFA250 million by June 2018, to finance its expansion

(Togo First) - Tanko Timati, a Togolese firm specialized in processing organic tomatoes into paste, said it intends to expand to 19 African countries by 2025. In this framework, the firm aims to increase its capital by CFA250 million before June 2018, by opening up its capital.

The local company established in 2016 actually eyes a turnover of more than CFA50 million this year.

Proceeds it will get by opening up its capital will initially be used to meet local demand then prepare to enter already set markets.

Ismael Tanko, CEO Tanko Timati, told Togo First in an interview that fundraising has already started with three potential investors. “At the moment, we are in talks with three parties, knowingly two individuals and an institution, to raise the CFA250 million we need to acquire new machinery to boost production and also install a greenhouse that will allow us to be partially autonomous, at least in regards to input supply,” Tanko said.   

Afterward, the entrepreneur called out to potential investors so that the fundraising, which should close before the end of Q2 2018, is successful.

Let’s recall that beside Togo, Tanko Timati is also present in Benin, Burkina and Niger.

Fiacre E. Kakpo

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