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The cashew industry in several West African countries, including Ivory Coast, Ghana, and Nigeria, is receiving strong support from a $60 million project backed by the United States. The project aims to help local cashew factories and processing facilities grow more sustainably and operate more efficiently.
=> Related article: Nigeria Works with Farmers to Revive Cashew Plantations
The Prosper Cashew Project
The Prosper Cashew Project, led by the nonprofit organization TechnoServe with support from the U.S. Department of Agriculture, will establish a funding mechanism to strengthen the commercial capacity of the cashew processing sector in Ivory Coast, Ghana, and Nigeria.
Launched in October 2020, the project was designed to act as a catalyst for the West African cashew industry. It provides technical support, industry knowledge, and business assistance to strengthen existing processing facilities, revive struggling factories, and improve access to the working capital needed for local processors to operate more smoothly.
The Prosper Cashew Project, led by TechnoServe with support from the U.S. Department of Agriculture, aims to support the cashew industry in West African countries.
West African Countries Account for 45% of the World’s Raw Cashew Nuts
West African countries are among the world’s leading cashew producers, accounting for more than 45% of the raw cashew nuts harvested globally each year.
However, less than 10% of raw cashew nuts are processed within West African countries. Most of the crop is exported to Asia, where it is processed before being shipped to consumer markets around the world.
At the project launch ceremony, Adama Coulibaly, Director General of Ivory Coast’s Cotton and Cashew Council, shared that processing “remains our biggest challenge, but the government is working hard to change this.”
=> Read more: Farmforte Opens a Cashew Processing Factory in Edo, Nigeria
West African countries are among the world’s largest cashew producers, accounting for more than 45% of global raw cashew nut production.
Aiming to Process Half of Raw Cashew Production
Adama Coulibaly added: “We are aiming to process around half of our production by 2025. This goal will become less difficult thanks to support from partners from the United States.”
Krishanu Chakravarty, Prosper Cashew’s project director in Abidjan, said that around 75% of the project’s activities would take place in Ivory Coast. “Therefore, 75% of the funds will be disbursed in Ivory Coast, because this is a major cashew-growing country and provides a favorable environment for the project to move forward,” Chakravarty said.
Over the next five years, TechnoServe said Prosper Cashew would improve the capacity of 60 processors sourcing cashews from about 34,000 farmers. The project is expected to help facilitate $497 million in investment in the cashew sector and generate around $1.5 billion in cashew kernel revenue.
=> Read more: Dekel Agri-Vision Establishes a Cashew Factory in Ivory Coast
Prosper Cashew’s project director in Abidjan said that around 75% of the project’s activities would take place in Ivory Coast.
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