Kentaste
- Country
- Kenya
- Technology
- N/A
- Business model
- SME
EDFI AgriFI invests USD 1.5m in Kentaste to improve Kenyan organic coconut farmers’ livelihoods
Investment Name: Kentaste
Contract date: December 2021
Country: Kenya
Sector: Coconuts Products
Total AgriFI Financing: USD 1.5 million (around EUR 1.2 million)
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
Founded in 2014, Kentaste is a manufacturer and distributor of FMCG (fast moving consumer goods) with a product line based on coconuts. It includes coconut milk, coconut cream, virgin coconut oil and desiccated coconuts. They are based along Kenya’s coast (Kwale and Kilifi counties, one of the poorest of the country) where they have a network of around 2,700 smallholder farmer suppliers, of which 1,800 are certified organic and fair trade. The goal of the project is to make this model and the impacts it delivers for farmers sustainable by accompanying Kentaste to reach financial profitability by increasing its production capacity and high Environmental and Social standards. AgriFI will finance Kentaste’s growth with a senior 8-year term loan facility of USD 1,500,000. It will enable the company to increase its processing capacity from 30,000 to 60,000 coconuts per day.
- Smallholder farmers
- 5000 by 2024
Impact
- Financial instrument
- Senior loan
- Amount
- EUR 1.2 million
- Year
- December 2021