Founded in 2011 by Niche Cocoa Industry Ltd., Niche confectioneryManufactures both finished chocolate products – bars, drinks and spreads – as well as chocolate ingredients for bakery and ice cream makers. These products include natural and alkalized cocoa powder, natural and deodorized cocoa butter, and cocoa liquor.
The parent company is Ghana’s largest independent cocoa processor with 60,000 metric tonnes per year, all Fairtrade, Organic, Halal, Kosher and UTZ certified.
In a September 16 statement explaining its investment of 8 million euros ($ 8.7 million), FMO Bank noted that Ghana rarely benefits from its “most important agricultural product”. Dutch public-private company focuses on sustainable economic and social progress in developing countries, Especially in agro-industry, energy and local financial institutions.
A 2018 report from Corvinus University in Budapest, prepared for the European Association of Agricultural Economists (EAAE), found that Ghana probably exports around 75% of its cocoa production.
With this influx of cash, Niche will have the opportunity to reach the entire value chain in its home country, FMO continued – a contradiction frequently studied by researchers and industry analysts. Most of Ghana’s cocoa comes from smallholder farmers, and they stay away from the main playersAnd even their own contractual conditions.
FMO said the investment “Will lead to more jobs, technical know-how and added value in the cocoa sector, all of which contribute to the socio-economic development of the country”.
The project presents a “high medium” level of risk, second in the environmental and social logic of the bank. Niche currently works mainly with certified organic agricultural cooperatives, but this financial boost will open up avenues for conventional producers.