KKO International, operators of one of the largest cocoa plantations in the world based in Côte d’Ivoire, has raised a 3.8 million-Euro credit facility to further its strategic plan.
According to a press release copied to Cocoa Post, the current capital increase would allow the KKO International Group to complete its “TREE-TO-BAR” chocolate production unit located in Abidjan.
Part of the funds would also go into the continuous investment of agricultural activities until financial equilibrium, expected in 2020.
The release explained further, the capital injection would enable KKO International to replace the OCABSA program set up by ABO and the European High Growth Opportunity Securitization Fund.
The Board of Directors of the company ended the OCABSA realising it was contrary to the interest of its shareholders.
As the World Bank had recently pointed out, nearly 80% of the sector’s earnings were concentrated in the processing phase (chocolate mass) and the distribution of fine products to end consumers.
By climbing the value chain, KKO International brings to the fore, the excellence of its cocoa beans that were fully traceable “TREE-TO-BAR”, in compliance with the ethical and environmental requirements that constituted its DNA.
The company, from its onset, decided not to operate the existing agricultural and industrial practices being denounced by the media, consumers and international financial institutions who are demanding a drastic change in the behaviour of multinationals within the sector.
KKO International is thus able to become the world leader in the sustainable and responsible production of TREE-TO-BAR, fully traceable cocoa beans, which is the guarantee for a chocolate of excellence.