IFC and Absa trade facility to Volcafe to support thousands of coffee farmers in East Africa
The facility, with up to $30 million each from Absa and IFC, will allow Volcafe to provide more than 75,000 farmers with market access
IFC, a member of the World Bank Group, and Absa Group Limited, a South African-based bank, will provide an up to US$60 million commodity trade finance facility to Volcafe, a leading global green coffee merchant, to strengthen the company’s operations in East Africa, supporting tens of thousands of coffee farmers in the region.
The financing will provide working capital to facilitate the purchase of coffee cherries – the fruit from which coffee beans are extracted – from smallholder farmers and local traders, as well as the processing, storage, and transport of coffee to export ports.
More details on volcafe.com
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