Status: Approved investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Niche Confectionery Ltd. is a Ghanaian producer of chocolate products. Niche Confectionery is owned by Niche Cocoa Industry Ltd., the largest independent cocoa processor in Ghana with a capacity of 90.000 tons per year. The group was founded in 2011 and is 100% Ghanaian owned. Niche Confectionery produces finished chocolate products such as bars, spreads, and drinks for the local market as well as export.

What is our funding objective?

The EUR 8mln facility will be used to purchase an instant powder line, a ready-to-drink line, and equipment for producing chocolate spreads.

Why do we fund this investment?

Cocoa is Ghana’s most important agricultural product. However, traditionally, a high percentage of cocoa beans is exported with low- to no value added locally. Supported by this investment, Niche will expand its range of activities to cover the entire value chain – from bean-to-bar – within Ghana. This will lead to further employment, technical know-how, and value addition within the cocoa sector, all of which contribute to the country’s socio-economic development.

What is the Environmental and Social categorization rationale?

E&S category is B+ (high medium). Niche runs a comprehensive environmental and social management system at the factory. Core E&S risks are associated with cocoa bean production at the farmer level, which Niche can partially mitigate through direct engagement with organically certified farmer cooperatives. This FMO facility will enable Niche to expand its supply chain policy to conventional cocoa producers. IFC PS 1-4 and PS 6 are triggered. IFC PS 5 (land acquisition) does not apply because the project is located at the existing Niche manufacturing site, with no land acquisition in the cocoa producing areas. IFC PS 7 (indigenous people) and PS 8 (cultural heritage) are not applicable because no indigenous people are impacted by the project, and no cultural sites are located in the vicinity of Niche’s production facility.

More investments

Date Total FMO financing
11/30/2020 EUR 8.00 MLN
Agribusiness, Food & Water
Publication date
Effective date
Total FMO financing
EUR 8.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)