Samawati Capital supports in closing a EUR 20m trade finance facility with Phoenix Commodities through the Africa Agriculture and Trade Investment Fund. Phoenix is a global food and agri business operating across the value chain in production, procurement, processing, trading and distribution across five continents. Its activities are managed through 25+ offices that connect over 70 origin and destination markets. Its 2,500+ strong team manages 45+ supply chain assets and facilitates the production and / or trade of 12m+ MT of essential commodities and goods, supplying over 4,000 customers worldwide.
The EUR 20m facility with a tenor of 4 years will be used for the purchasing and export of cashew nuts from Côte d’Ivoire. With the country being the world’s largest producer of cashew nuts, increased exports will benefit not only the larger economy, but those working across this agricultural value chain. Phoenix’s plans to invest in processing units in the continent for different commodities which will support the aim of having more value remain on the continent.