Project detail - ALMACENA BV

ALMACENA BV

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Who is our client

Almacena BV is a Dutch start-up dedicated to support small farmers in African countries to unlock their access to new markets and finance, enabling direct trades between them and final buyers. Its product, the Platform, offers to African producers an online marketplace as a direct sales channel to end buyers – roasters and tea packers – in consumption markets. The direct sales are facilitated by the trading as a service model which allows the producers to get working capital finance, insurance, logistics, warehousing, and local marketing services via the Platform against a fixed minimal fee.

Funding objective

With Finture Solutions development capital Almacena BV will accelerate the implementation and roll out of the online Platform and mobile app that will offer Commodity Trading as a Service (e.g. finance, logistics, storage, insurance, marketing) to effectively shorten the supply chain and create win-win trades for the producers and end-buyers

Why we fund this project

The project gives African growers and their families an affordable finance alternative in an intuitive and flexible manner; actively promotes women-only cooperatives and offers special rates of finance to stimulate women professional employment; helps with job retention in rural areas; enables access to EU markets and higher value retention for the African growers and promotes fair trade, organic and best agricultural practices and responsible sourcing on the platform.

Environmental and social rationale

Risk Category B+. Indirectly all IFC Performance Standards may be triggered in the supply chain. Almacena’s activities do not have a direct impact, but indirectly E&S impacts will be triggered throughout value chain. Its CSR policy is embedded in the code of conduct which is endorsed by commodity exporters, importers, producers and service providers that are active on the platform. The Code of Conduct outlines recommendations relevant to improve working conditions in the supply chain and refers to international conventions such as the Universal Declaration of Human Rights, the Children’s Rights and Business Principles, UN Guiding Principles for Business and Human Rights, OECD Guidelines, UN Global Compact and International Labour Organization (ILO) Conventions. Almacena has a policy to monitor the performance of its clients and in conjunction with FMO will develop a plan to build E&S capacity in both the Netherlands and at their premises in Africa.

Region
Africa
Country
Africa
Sector
Agribusiness, Food & Water
Signing date
10/1/2020
Total FMO financing
EUR 0.13 MLN
Fund
Development Accelera
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)