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THE PROJECT
Ten Senses Africa is the first and only processor and exporter of certified Fair Trade macadamia nuts from Africa. Founded in 2008, TSA works with farmer groups from three districts in the Upper Tana region of Kenya: Meru, Taita‐Taveta and Embu. In 2011, the company plans to export about 100 tons of processed macadamia nuts to the European and US markets.
THE DEAL
In December 2011, Verde Ventures provided a loan of $75,000 to Ten Senses Africa, for working capital ($15,000) and the balance of $60,000 will be to cover 85% of the cost of additional equipment for production line, which will enable the company to augment its production capacity and subsequently increase the level of conservation and social impact in the region.
THE BENEFIT
The investment represents an opportunity to support a group of targeted 5,000 farmers within the upper Tana Region and in the Taita Taveta region of Kenya building the capacity of an SME to provide an economic justification and financial premium to farmers for maintaining forest and tree cover in these priority hotspots.