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Bond: KKO issues 4 billion FCFA over the period 2023-2031

24/03/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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KKO International successfully issued a bond in March in the amount of FCFA 4 billion (€6 million) over 2023-2031 at a rate of 7.20% per year. In 2014, the company began intensive cocoa cultivation in Côte d'Ivoire, through its Ivorian subsidiary the Société de Logistique et d'Exploitation Agricole (Solea) and built a cocoa processing plant.

L'emprunt de KKO international a été souscrit à hauteur de 50% par le African Local Currency Bond Fund (ALCB Fund). The ALCB Fund is the fruit of the association between the Bank (KFW Kreditanstalt für Wiederaufbau () and the German Ministry for Economic Cooperation and Development, and four investors who include banks and companies from first class insurance in Africa. This loan was guaranteed up to 80% of the amount from the African Guarantee and Economic Cooperation Fund (Fagace). According to KKO International, “the use of a bond is an innovative method of financing in agriculture on the African continent. The financing provided by the ALCB FUND is the first ALCB investment ever made so far in the agricultural sector in Africa.”

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