Coop Diassine Agricolture

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Sector: Agriculture, fishing and breeding
Country: Senegal
Year of business registration: 2018
State of advancement:

The local company has already been established with the Father and the sons as partners. The company is not yet operational. The company has already signed agreements with 40 local producers for the delivery of certified BIO products. The company also obtained the BIO certification of 340 hectares of land for the production of BIO cashews. In addition, negotiations are already underway for the resale of the product to leading distribution and sales companies in Italy.

Business Idea

The activity involves the cultivation, processing and marketing of Bio Cashews from Senegal. In a first phase, the activity will involve the purchase of the product from 40 local growers, the transfer to a local company for the processing and transformation and marketing of the product to the Italian market. The second phase involves direct cultivation on land that has obtained the BIO certification.

Purpose of the investments

The investment is used to purchase jute pallets and sacks, while the short-term line is used to finance the monetary cycle.

Financial needs

The cooperative is looking for long term finance for an amount of Euro 35.000 and short term credit facilities for an amount of Euro 60.000.

Progress of the investments

The enterprenuers are investing their own capital in the start up of the company and they are looking for additional finance to boost up the activities.

Organization Chart

LThe initial phase involves the organization and coordination of 40 small cashew producers who currently sell their raw product to foreign exporters and who can, in this way, obtain a fairer price. The product is processed by a local company with which agreements have already been made. The sale will be made to Italian retailers with whom negotiations are already underway.

Business Indicators

The activity foresees a high turnover of about 400,000 euros per year with a profit that is around 100,000 euros before remuneration for the entrepreneur. In consideration of the seasonal nature of the business, investments in proprietary infrastructures have been replaced by rents of spaces and structures in order to have greater flexibility for the company.

Business Partners

The company can count on a partnership with local producers regarding the procurement and production phase. Partnership also with Italian companies of supermarkets of BIO products.

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