Country: Benin, Nigeria, and Tanzania
Type of company: Intermediary Investment Company
Purpose: Purchase organic soybeans, soymeal, and sunflower seeds from local producers for storage, packaging and exporting
Financial close: 15th December 2022
Tenor: 24 months
Type of Investment: Senior Secured Trade Finance Facility
S&E Category: B
On 15th December 2022, AATIF financed the first trade under the USD/EUR 1.5m senior secured trade finance facility with Vantage Netherlands B.V. to finance the export of raw organic soybeans from certified smallholder farmers in Nigeria and Benin, and organic sunflower seeds from Tanzania to Europe / US.
Vantage India is an experienced supplier of certified organic ingredients to importers, manufacturers, and distributors all over the globe. Starting off as a pure trader of organic soybeans out of India, they have over the years developed into an integrated agri-business with eight crushing machines of 20 MT per day each and its own out-grower scheme of over 30,000 organically certified smallholder farmers supplying soybean to the factory in India.
AATIF’s investment is expected to impact African farmers, with 100% of produce being sourced from organically certified smallholders located in the most remote parts of Benin, Nigeria, and Tanzania, allowing the Fund to strengthen its profile towards supporting smallholder farmers.
Local production
100%
of produce sourced locally
OUTREACH TO AGRICULTURAL PRODUCERS
43,000
Number of smallholders sourced from throughout-grower scheme
Number of male employees
Benin
Total 25-40*
(1 permanent staff,
25-40 casual labourers)
Nigeria
Total 25-40*
(1 permanent staff,
25-40 casual labourers)
Tanzania
Total 25-40**
(1 permanent staff,
25-40 casual labourers)
* Locally based country managers, but under Vantage India payroll
** Locally based country manager already there, but under Vantage India payroll. Casual labourers only to be hired when the first buying season starts.
