Global Coffee Merchants May Back African Fund to Boost Output

  • African Development Bank to meet trading houses next month
  • $30 million fund would help smallholders grow more, IACO says

By Nizar Manek, 17 February 2017
(Bloomberg) -- 
International trading houses including Sucafina SA and Nestle SA plan to back a proposed $30 million African coffee fund to help boost smallholder output, the Inter-African Coffee Organization said.
The African Development Bank, which will manage the facility, will meet with trade houses next month in Geneva, Switzerland, about raising funds, said Frederick Kawuma, secretary general of the IACO. Tchibo Coffee International Ltd. and Luigi Lavazza SpA are also among firms keen to back the fund, though there are no commitments yet.
(271 words -- Bloomberg Terminal only)