IFC to support $18 million cashew processing expansion in Côte d’Ivoire

International Finance Corporation (IFC), the private investment arm of the World Bank Group, is set to support Dorado FZCO, a UAE-based agribusiness firm, with an $18 million investment aimed at expanding cashew processing capacity in Côte d’Ivoire, reinforcing the country’s push toward value-added agricultural production.

The proposed investment, which is pending board approval scheduled for August 14, 2026, will finance the development of a new 50,000 metric tons-per-year cashew processing plant in Yamoussoukro. The project is expected to strengthen domestic processing capabilities in one of the world’s largest cashew-producing nations.

Dorado’s expansion drive in Côte d’Ivoire
Dorado FZCO, a leading cashew processor with operations in West Africa, is spearheading the project through its wholly owned subsidiary, Bluejay Nuts SARL. The company is majority-owned by founder and chairman Venkatesan Rajkumar, who holds a 90% stake, while managing director Vigneshwar Rajkumar owns the remaining 10%.

The new facility will significantly scale Dorado’s footprint in Côte d’Ivoire, where local processing remains underdeveloped relative to production volumes. By introducing modern, mechanized operations, the company aims to enhance efficiency while capturing more value within the country.

In addition to financing, IFC will provide advisory support to strengthen Dorado’s cashew supply chain management, ensuring improved sourcing, traceability, and integration with smallholder farmers.

Strengthening local value addition
Côte d’Ivoire currently processes approximately 40% of its cashew output domestically, with the majority exported as raw nuts. The Dorado project is expected to boost this ratio by increasing local processing capacity and supporting the development of a more integrated value chain.

The investment is also projected to improve market access for smallholder farmers, create jobs, and stimulate broader sector growth. By leveraging its scale and operational expertise, Dorado is positioned to drive innovation and encourage replication across the industry.

IFC’s role and financing structure
The total project cost is estimated at $18 million, comprising a $15 million corporate loan from IFC and $3 million in equity from the project sponsors. IFC’s involvement is expected to unlock long-term financing that is typically scarce for agribusiness ventures in Côte d’Ivoire.

Beyond capital, IFC will support the company in adopting global best practices in corporate governance, operational efficiency, and supply chain management, further strengthening the sustainability of the investment.

What’s next for Côte d’Ivoire’s cashew sector?
As global demand for processed cashew products continues to rise, Côte d’Ivoire is increasingly focused on shifting from raw exports to value-added production. Investments such as Dorado’s new plant are central to this strategy, enabling the country to retain more economic value domestically.

With the project awaiting final approval, its successful execution could mark a significant step forward in transforming Côte d’Ivoire into a leading hub for cashew processing in Africa, while setting a benchmark for future agribusiness investments across the region.