FMO, BII, Proparco and ILX team up to back Robust International
Sourcing primarily from East and West Africa, Robust is a multinational trader of agri-commodities.
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Development finance institutions FMO, British International Investment, and Proparco, together with Dutch fund manager ILX, announced the signing of a working capital facility of up to $90 million for Robust International, an agri-commodity trader.
Founded in 2006 and headquartered in Singapore, Robust is a multinational trader of agri-commodities, specialising in sesame and cashew nuts. Sourcing primarily from East and West Africa, Robust conducts early-stage processing operations to serve markets worldwide. The company is evolving from traditional trading and processing to becoming an end-to-end integrated supply chain company.
These working capital funds will enable Robust to buy sesame and cashew nuts directly from cooperatives, aggregators and farmers locally to support operations at its new processing facilities in Burkina Faso, Côte d'Ivoire, and Mozambique.
“We are happy to lead this significant investment in Robust International, which will not only enhance their processing capabilities but also create substantial economic opportunities for farmers in Africa. This partnership underscores our commitment to sustainable development and the positive impact we can achieve through collaboration,” said Michael Jongeneel, CEO of FMO.
Chris Chijiutomi, managing director and head of Africa, at BII commented: “Agriculture is the lifeblood of Africa’s economies and it is critical for us to ensure inclusion particularly for the smallholder farmers. We are delighted to join FMO, Proparco and ILX in mobilising investments into the agricultural sector. This will attract US dollar liquidity from agricultural exports, providing the vital boost needed to fuel these countries’ long-term economic growth.”
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