Resilient Cocoa Farming

Small cocoa producers feeding the planet, from Peru.

Resumen de la inversión

Categoría de impacto

Sistemas agroalimentarios

Tipo de inversión

Préstamo

Interés anual

Plazo

meses

Nivel de riesgo

B+

The goal of this campaign is to provide production and export financing to a fair trade, certified, female owned and female-led, Cocoa aggregator, processor, local seller and exporter, operating with more than 3,000 local producers in the Northern regions of Cajamarca, San Martín and Amazonas and the central region of Huánuco – the four regions collectively producing 55% of the Peruvian yearly total cocoa produce, for a total aggregate of 23,400 Metric Tons per year.

The Company, is in Tarapoto (San Martin) and concentrates 10% of the local market share, ranking as the third largest cocoa bean marketer in Peru. Its vision is to improve the quality of life of its farming partners, offering training and technical assistance, and to be recognized by the local and international community as suppliers of inputs for quality, developing customized products, with commitment, ethics and trust. This vision and strategy is reinforced by several certifications, from which Fair Trade (Comércio Justo) and USDA Organic should be highlighted.

The Fair Trade Certification is particularly relevant, as it places the Company in the 13% out of the 33million global cocoa producers that have achieved such certification which, among others, ensures that the cocoa processing and procurement is free of child slavery labour – the Fair Trade certification is particularly strict in this regard, and with yearly inspections in the sourcing farms, has no tolerance for any abusive labour practices.

Peru is the sixth largest producer of cocoa worldwide, the second largest organic cocoa producer (after the Dominican Republic) and the number one fair-trade organic cocoa producer worldwide.

The worldwide demand for cocoa is growing and especially the demand for certified cocoa is expected to continue to grow in Europe over the next years, with two clear increasing trends: search for sustainable (certified) chocolate products, i.e. cocoa bean production that complies with social, environmental and economic aspects and where the whole process is successfully certified by a third party; and towards authentic ingredients and single origin cocoa products.

Less than 10 years ago, thousands of farmers used their plots in the Northern Highlands of the Selva region to grow coca - while coca provided a steady income in remote regions, the illicit crop also brought with it the violence of drug traffickers and their allies. The government was eager to eradicate it and with the collaboration of the military, police, local, regional and national governments and initiatives from international donors and the private sector, Peruvian coca farmers were converted to cocoa (and coffee) farming and Peru has, in the last years, quickly built a global reputation for producing traditionally cultivated, shade grown, high quality cocoa beans.

The funds raised through this campaign will be used as Transactional Working Capital to provide liquidity to the Company from its procurement and processing stage, all the way through its exports.

¿Cuál es el impacto?

Promotion of an inclusive value chain by joining 3.000 local producers who have access to an international export value chain.
Better working and financial conditions for small producers, who own less than 2 hectares of land.
Rural poverty reduction: smallholders will receive a higher profit margin for their produce, which can be allocated to more than pure subsistence.
Contribution to the Company’s social mission, by ensuring cash payments at the “farm gate” to the farmers and early payments at a premium to the Company. The company can then reinvest the money in training, education, social support to the farmers and their families, health support and help with organic and fair-trade certifications.
Gender quality promotion - the company is fully owned by its female CEO, who runs a senior and experienced team.
Incentive to organic products growth: all the cocoa produced is organic and certified by a third party.
Incentive to reducing child slavery – the chocolate certification guarantees that all the processing and procurement is free of child slavery labour, and there is no tolerance for any abusive labour practices.
Contribution to the environmental protection of the Selva Region, in the Peruvian Northern Highlands: A shade crop, cocoa can be grown in forests and agroforestry systems, thus helping to enrich soils and protect them against erosion.

Indicadores de impacto
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750

people

impacted

Contribución a los Objetivos de Desarrollo Sostenible
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Sobre el promotor

About

WCA (Working Capital Associates) LLP

Working Capital Associates (WCA) se fundó en 2018 por Federica Sambiase – profesional senior del sector financiero y bancario – y CEO de la empresa. Experimentó de primera mano como los bancos comerciales tradicionales no conseguían adaptarse a las necesidades de los prestatarios de PYMES y sus requisitos hechos a medida, especialmente en regiones como SSA y Latam, donde la necesidad de crédito crecía rápidamente.

La visión de WCA refleja más de 20 años de experiencia de su líder en el mundo de las finanzas, así como la pasión por el desarrollo e igualdad de género, madurada y nutrida durante sus años como miembro de la junta directiva de la ONG Care International.

WCA es la única empresa – liderada por mujeres y cuya propiedad es totalmente femenina- que proporciona financiación directa a la cadena de valor de productos agrícolas en África subsahariana (SSA) y Latinoamérica (Latam).

WCA está comprometida con un enfoque de negocio profesional, ético y transparente, efectuando inversiones socialmente responsables “que permiten a los inversores abordar los criterios medioambientales, sociales y de gobernanza empresarial (ASG) mediante la inversión en soluciones específicas, como por ejemplo la energía renovable, gestión de residuos y agua, silvicultura y agricultura, productos de salud e inclusión financiera ” (PRI).

La empresa sigue dos cuestiones clave:

La empresa también aplica inversión en lentes de género, procurando financiar un nivel significativo de negocios liderados por mujeres que siguen los estándares de gestión sostenible y responsable.

El propósito de WCA es aumentar la cadena de valor proporcionando acceso a financiación a PYMES y enfocándose en tres principios clave dentro del marco de los ODS:

El equipo está compuesto por diez profesionales, gran parte del equipo miembros senior con más de 10 años de experiencia en mercados emergentes y/u operaciones financieras, y experiencia colectiva en financiación de más de 1 billón de dólares de deuda a corto plazo y transacciones comerciales de mercados emergentes.

Puedes saber más sobre el equipo aquí.

WCA también ha sido reconocido como un agente del mercado relevante, y como prueba de ello:

Asociación con Centro de Comercio Internacional de las Naciones Unidas, en el ámbito de apoyo comercial de actividades enfocadas de género.
Asociación con la Cámara de Comercio de Kenia.
Conferenciante en el Foro Mundial de Comercio y Desarrollo - Etiopía
Conferenciante en la Semana Sostenible de Suiza.
Conferenciante de la Cumbre Anual de Café de África del Este – Kenia.
Formador y colaborador en seminarios con la Cámara de Comercio de Kenia y del Centro de Comercio Internacional.

Sitio web del promotor

https://www.workingcapitalassociates.com/

Equipo

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Modelo de negocio
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