EDFI AgriFI and BIO Join Forces to Invest EUR 6 Million in Gebana Faso

EDFI AgriFI, the EU-funded Agriculture Financing Initiative, managed by EDFI Management Company (EDFI MC), and BIO, the Belgian Investment Company for Developing Countries, have proudly announced their co-investment of a total of EUR 6 million in Gebana Faso (GFA), a pivotal step towards enhancing integrated and sustainable food supply chains in the region.

gebana Faso (GFA), a subsidiary of the Gebana Group, stands at the forefront of promoting sustainable practices in the food industry. The company specializes in processing and exporting Fair Trade and Organic cashew nuts and dried mangoes, directly impacting the lives of approximately 3,500 local family farmers in the region. Headquartered in Bobo Dioulasso, GFA is firmly committed to supporting local communities and fostering economic growth.

Supporting sustainable agribusiness

The investment is poised to create lasting positive changes, impacting around 6,000 family farmers by 2026 and generating employment opportunities in rural Burkina Faso.

The co-CEO of gebana Faso, Ousseni Porgo, shared, “This investment is a testament to the collective dedication towards sustainable development. By establishing an advanced processing facility, we aim to not only uplift local family farmers but also set new standards for eco-friendly practices in the food industry.

CEO of BIO, Luuk Zonneveld, has conveyed his excitement about the partnership, remarking, “Our team is highly enthusiastic to join forces with EDFI AgriFI in aiding gebana Faso’s mission to make a beneficial influence on the nearby agricultural community and the ecosystem. This financial commitment underscores our dedication to nurturing sustainable economic advancement while advocating for ethical and eco-friendly approaches.

Rodrigo Madrazo, CEO of EDFI MC, commented, “gebana Faso’s mission closely aligns with our objectives of supporting sustainable and inclusive agribusinesses that contribute to improve smallholders’ livelihood.  Indeed, the approach promoted by gebana leads to higher income for smallholders thanks to premiums linked to Organic and Fairtrade certifications but also thanks to a profit-sharing mechanism as 10% of turnover in gebana web shop is distributed back to farmers”.

Representative from the European Union Delegation in Burkina Faso, Diego Escalona Paturel, praised the initiative, highlighting its potential to create a ripple effect in the region. “gebana Faso’s commitment to Fair Trade and Organic practices is aligned with the EU’s values of sustainability and inclusivity. This investment will undoubtedly contribute to the economic empowerment of Burkina Faso’s rural communities.”

Yvonne Chileshe, Expert on Value Chains at the Secretariat of the Organisation of African, Caribbean and Pacific States (OACPS) emphasised the importance of the investment’s impact. “As an organisation, we are pleased with this investment as it complements our work on value addition to commodities such as cashew, and the development  of  sustainable and green value chains in the OACPS regions. Therefore, we recognise the significance these initiatives in promoting sustainable development and improving livelihoods in Burkina Faso.”