Cordaid Investment Management (CIM) and Triodos-Hivos Fund, two Netherlands-based impact investment funds, co-financed Capitol Foods’s expansion of its local fruit processing capacity to meet the growing demand for its Sierra Juice beverage products. The debt facility will also enable the company to provide greater market access for thousands of fruit farmers in Sierra Leone.
For Capitol Foods, the timing of the loan was extremely valuable. Not only did it facilitate the purchase and installation of their 3-tonnes-per-hour fruit processing plant, but it did that during the peak of the Covid-19 outbreak. Hamza Hashim, CEO of Capitol Foods: “This loan created an immediate relief to both our company’s input supply chain and thousands of rural farmers around Sierra Leone. Farmers whose access to the market was limited due to movement restrictions.”
“CIM and Triodos combined knowledge and competencies to structure this deal that will meet the needs and growth plan of Capitol Foods. Leveraging on CIM’s presence in Sierra Leone, we carried on with the due diligence of the investment during the pandemic. This prevented further delays of the expansion project,” says Lorisa Canillas, Senior Investment Manager at CIM.
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