Oikocredit provides loan to Malian mango processor

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Oikocredit is providing debt financing to a profitable Malian mango processing business based in Selingué, some 200kms south of the country’s capital, Bamako. The impact investment firm is loaning Compagnie Malienne de Fruits (or ComaFruits) €1.6 million (of almost $1.9 million) which will be used to buy in more mangos from its network of smallholder farmers as well as invest in conditioning equipment needed to process and export mango products. The tenor and yield of the debt have not been disclosed.

ComaFruits was established in 2009 by Dino Ballestra, an entrepreneur with significant experience in Europe’s food industry. He saw an opportunity to build a business producing mango puree from the large and relatively unexploited volumes of organic mangoes grown in Mali. The company’s factory is located in one of Mali’s main mango growing basins, buying in the fresh fruits from an extensive network of 3,000-plus smallholder farmers to be turned into puree for sale to producers of mango-related consumer products.

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