FMO proposes investment in West African agricultural inputs distributor

Dutch development finance institution FMO is exploring the acquisition of a controlling equity stake, as part of a consortium of investors, in Project Budapest, which concerns a leading distributor of agricultural inputs (fertilisers and crop protection products) and specialty chemicals mainly in West Africa (its largest markets include Côte d’Ivoire and Cameroon).

The company has about 400 employees and is well entrenched in its markets, having operated in the African continent for over 70 years. Agri-input products are distributed under the company’s own brand, and sold to smallholder distributors, agro-dealers and retailers who, in turn, sell these products to smallholder farmers. The company also engages directly with smallholder farmers through technical support and training initiatives.

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