As one of the top producers of cashew nuts in the world with 800K tons produced annually and one of the largest economies in West Africa, Ivory Coast has been selected as a target market for Orascom Investment Holding’s first agribusiness project.
Exporting mainly to Vietnam and India, Ivory coast only processes approximately 6% of all raw cashew nuts produced, costing the economy millions of dollars. In efforts to reduce these losses, the Ivorian government is leading an initiative to increase cashew nut processing to 50% by 2020.
Building on that, Orascom Investment Holding is currently working on establishing the biggest cashew nut processing facility in the Ivory coast with a 30M USD investment, launching in early 2019. The facility is expected to process 25K tons of raw cashew nuts as a start with a 10-year plan to process 20% of the total Ivorian production.