Bobo-dioulasso: With a substantial financial boost of 500 million CFA francs from the DUMU KA FA fund, GEBENA, a prominent cashew nut processing and marketing company, has made significant strides in its operations. The Managing Director, Ousseni Porgo, expressed his gratitude for the funding, which has enabled the company to acquire 900 tons of raw cashew nuts to fulfill its orders for 700 tons of kernels.
According to Burkina Information Agency, the funding was instrumental in allowing GEBENA to not only secure raw materials but also sustain employment for 485 people, 86% of whom are women working full-time. The factory collaborates with several local contractors, contributing significantly to the local economy.
Mr. Porgo shared these insights during a press caravan held in Bobo-Dioulasso, where he highlighted the simplicity and customization of the financing offered by the DUMU KA FA fund. He noted that the partnership provides crucial support, especially given the stringent demands of local banks. This collaboration aligns with the Burkinabe authorities’ commitment to local transformation and industrial development, and efforts are underway to further strengthen these partnerships.
GEBENA exports 80% of its production and is now aiming to increase its domestic market share to between 40% and 50%. The company’s impact extends beyond economic growth, as described by an employee, Zabr©/Nanema Ruth, who shared that her work at GEBENA has significantly improved her family’s living standards, enabling her to afford education for her children and other necessities.
The DUMU KA FA fund, created in February 2024 by the Burkinabe government, aims to address the financing needs of agro-pastoral and fisheries sectors. It offers credit ranging from 100,000 to 500 million CFA francs at a 5% annual interest rate. Eligible recipients include individuals, businesses, cooperatives, and public institutions, all working towards expanding their activities in these vital sectors.