Oikocredit credit line will support Valency Agro Nigeria in expanding high-quality cashew nut processing for export

Oikocredit has made a repeat loan of USD 8.6 million to Valency Agro Nigeria to support its processing of raw cashew nuts into high-quality kernels for the export market.

Valency Agro Nigeria Limited has been a partner of Oikocredit since 2021, and the collaboration has supported value addition in the cashew sector, created and sustained over 1,000 permanent and seasonal jobs, especially for women, and supported smallholder farmers and their families in improving their livelihoods.

With the new loan, Valency Agro aims to expand its cashew processing facility in Nigeria, where it employs hundreds of skilled workers, most of them women who would find it difficult to obtain other sources of income, and to increase the number of cashew farmers it buys from.

Read the press release here