Tolaro Global is a cashew nut processing business based in the outskirts of Parakou, a small town in Northern Benin. Founded in 2010 by Jace (from the US) and Serge (from Benin), Tolaro sources raw cashew nuts directly from local farmers and transforms them into processed cashew kernels for export. It is the first factory in Africa to receive the African Cashew Alliance quality seal (an industry-accepted mark that confirms compliance with internationally-recognized standards of quality, food safety and social and labor standards.) Tolaro employs more than 600 Beninese men and women (pictured) with formal salary jobs and sources its cashew from more than 7,000 smallholder farmers in the region.
After more than five years of operations, Tolaro has an opportunity to significantly improve its business by starting a new factory. There it will roast and pack processed cashew kernels, a highly lucrative activity that is usually done in the consumer countries. This loan from MCE will help Tolaro expand its operations in the local transformation of Raw Cashew Nuts.