The government provides a major loan to the cashew sector

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Wednesday, 11 March 2020 17:08
The government provides a major loan to the cashew sector

(Togo First) - The government of Togo just disbursed a loan of XOF1.5 billion which aims at helping prefectures grow their cashew outputs in the 2020 campaign. 

The move intervenes in a context where the authorities have noticed that cashew volumes have been progressing in the past few years. It is up to us, as actors, and professionals, to take advantage of available opportunities, commented in this regard by the minister of agriculture, Noël Bataka, at the launch of the present cashew commercialization campaign. Besides, the official urged actors of the sector to work hand in hand to make sure that the Togolese cashew industry is resilient to external shocks. 

Regarding the disbursed loan, it will be managed by the Incentive Mechanism for Agricultural Financing based on risk-sharing (MIFA). In the long term, Lomé’s initiative should protect both the cashew market and the economy as a whole, Bataka indicates. 

Let’s recall that from 2019 to 2020, volumes of cashew destined for commercialization grew from 22,000 t to 25,000 t (+14%). 

Séna Akoda

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