This partnership allows Bic-Bred (Suisse) SA, a wholly-owned subsidiary of the French group Bred-Banque Populaire, to support Touton, a major player in the international trade of tropical agricultural commodities (cocoa, semi-finished cocoa products, coffee, spices, vanilla and spices), which employs most of its employees on the African continent.
Trade finance is an important tool for economic activity in Africa, especially for SMEs. This new risk-sharing tool helps to meet SDGs 8 and 10 ("access to decent jobs" and "reducing inequality").
For Emmanuel Haye, Head of Africa in Proparco's Financial Institutions and Inclusion Division, "this project allows Proparco to continue its support for the development of African exports in a key sector that provides many direct and indirect jobs.
For Michael Jackisch, Head of the Agricultural Division of Bic-Bred (Suisse) SA, "This partnership with Proparco enables Bic-Bred (Suisse) SA to support the growing financing needs of Touton, a long-standing client of the bank whose success and sustainability can be explained by its strong roots in exporting countries and the implementation of innovative and inclusive traceability and sustainability programs.
For Patrick de Boussac, Chairman and CEO of the Touton Group, "These financings are part of our ongoing investment to build responsible trade models with Africa. Our sustainable sourcing and carbon reduction programs are built around the reality on the ground, to contribute to the economic development of producers, while protecting ecosystems."