KingCafé to open up its capital, and raise $1.5M in the process

Finance

Tuesday, 07 June 2022 17:12

KingCafé to open up its capital, and raise $1.5M in the process

(Togo First) - KingCafé, a Togolese company specializing in the industrial processing of coffee and cocoa, will open up its capital in two or three months. The firm which has been active in Togo for around four years will do so through fundraising of $1.5 million (CFA900 million).

The news was disclosed to the press on June 6 by KingCafé’s CEO and sole partner, Paul Kpelly. The project, he noted, aligns with his vision of growth.

Concretely, the operation will enable the firm, according to its boss, to expand in WAEMU, Central Africa, France, and the US. Also, 30% of KingCafé’s shares will be transferred to investors in the process.

In detail, the money that will be raised–mainly from institutional investors, investment, and private equity funds–will be used to get the equipment needed to expand. This includes a new roaster and a mill with a production capacity of 2 tons per hour.

In 2021, KingCafé reported a turnover of CFA96 million, zero debt, and said it was fully expanding its distribution network. Now, it wants to raise its annual output from 2.5 tons to 150 or 300 tons, or even 1,000 tons. Its ambition is to enter unexplored markets and consolidate its footprint in markets where it already operates, ultimately making Togo’s Arabica coffee one of the best in the world.

Séna Akoda

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