Transaction Summary
Kineden Commodities SA, an Ivorian cocoa trader founded in 2014 specializing in sustainable sourcing and export, has secured a $65.7 million syndicated loan led by Ecobank International and Morocco’s Banque Chaabi du Maroc. The funding aims to optimise costs, diversify into agricultural processing, secure the supply chain, and expand into new commodities like cashew nuts. With annual sales of 50,000 tonnes of beans, Kineden is a local player in the ‘certified beans niche’ and sustainability.
Terms
- Lead Investors: Ecobank International, Banque Chaabi du Maroc (BCDM)
- Transaction Type: Syndicated Loan
- Target Company: Kineden Commodities
- Investment Amount: $65.7m
- Target Revenue: €100m in 2022
Transaction Rationale
Starting December 2024, the EU Deforestation Regulation will require proof that imported cocoa beans to the bloc did not contribute to deforestation. This will necessitate GPS coordinates for farms where the cocoa was grown and uploading them into an EU database. Noncompliance penalties include fines, confiscation, or a temporary EU
