“Doni Doni” affordable truck finance initiative

Bridging the needs of farmers and the sustainability goals of our customers with this award-winning sustainability initiative of the year

January 01, 2016

In Côte d’Ivoire, we work with the International Finance Corporation (IFC) to execute this innovative, award-winning initiative, recognized by both Food Ingredients Europe and Nestlé, through which farmers are benefiting from the affordable finance they need to improve farming logistics.

 

 

 

 

 

 

In Côte d’Ivoire, we work with the International Finance Corporation (IFC) to execute this innovative, award-winning initiative, recognized by both Food Ingredients Europe and Nestlé, through which farmers are benefiting from the affordable finance they need to improve farming logistics. 

How it works

Nestle Supplier of the Year and FIE Innvovation AwardThrough the scheme, farmer organizations that have taken part in our Coop Academy can get new trucks through a three-year leasing deal that also includes insurance. Participating cooperatives each pay 10% upfront and then put 10F (West African Francs) for every kilo of cocoa they deliver to Cargill into a savings fund, which covers their monthly lease fees. The interest rates they pay are significantly lower than any others commercially available.

Flexible finance of this kind enables cooperatives to save time and money by running new trucks – so they get a long-term return on their investment and move a step closer towards financial independence.

43 cooperatives have taken up the chance to lease 78 new trucks during the first year of the initiative.

This really is a unique scheme, which has been recognized by Food Ingredients Europe (FiE) with a prestigious FiE Innovation Award for “best sustainability innovation”.

"Cargill’s initiative embodies the true scope of sustainability"
FiE (Food ingredients Europe) Innovation Award, Jury report (extract)

 

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