Our investment in Valency is adding value to the nut processing industry in Nigeria and Côte d’Ivoire.
Agriculture is a key contributor to West Africa’s economy, but the region’s food processing and manufacturing capacity remains underdeveloped.
We made an initial £12.3 million investment in 2023 to fund Valency’s expansion in Nigeria. And we followed up in 2024 with a further £11.6 million commitment to accelerate the company’s expansion into Côte d’Ivoire. Our second investment will go towards a new cashew processing plant and biochar facility to root more of the value chain in the country. It will also allow Valency to offer a more traceable end product to its customers, with a smaller carbon footprint due to shorter shipping routes. Across our two investments, we expect to support the creation of 5,300 jobs, as well as indirectly support the livelihoods of 180,000 additional farmers in West Africa.
We worked closely with Valency to carry out a labour audit and implement an action plan to improve human resources policies and processes as well as improve job quality in cashew processing.
Caption: The expansion of Valency’s cashew processing facilities will boost employment opportunities.
