KDHI Receives ~$700,000 Letter of Credit (LC) to Source Raw Cashew Nuts in Ghana
Accra, 15 February 2018 - KDHI has received a ~$700,000 LC from a leading Tokyo-based trader to source Raw Cashew Nuts in Ghana. The KDHI team has been working diligently for months sourcing cashews and engaging with farmers to secure the supply chain logistics at the farms.
As the agriculture industry of Africa experiences growth, companies globally see value in sourcing their raw material needs from countries like Ghana. Production standards have increased and farmers are producing export quality goods; logistics have improved by way of roads and highway networks; and processing capacity continues to increase as technology and intellectual capital is introduced. With all of the above, one of the key components remaining, and which the entire business hinges on, is the financing available either for trade or for further development.
Our goal is to work with banks to access the financing and eventually tap into global partners to scale capacity while also diversifying the product offering. This all falls in line with the expansion of intra-African trade. The trading operations will set the stage for a long-standing trading business that addresses the key issues that are preventing the accelerated growth of the trade and logistics industries of Sub-Saharan African nations. It will also result in vertical integration to the production and processing aspects of the business.
About KDHI KDHI is a leading Agribusiness development firm that trains farmers, merges foreign and local capital, and secures off-take agreements to drive agriculture production in Sub-Saharan Africa and exponentially increase yields through data-driven processes. We work with our investors and strategic partners to bring world-renowned expertise to the countries in which we operate in order to catalyze greater food security for families, better health and nutrition, increased income, greater access to basic social services and increased productivity, as well as generating taxes of all kinds beneficial to the state (export revenue, agricultural equipment, etc.).