AGRONOMIKA FINANCE CORPORATION
Status: Completed investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Agronomika Finance Corporation (AFC) is a non-banking financial institution in the Philippines that was established by Kennemer Foods International in 2016. AFC will initially focus on providing loans to smallholder cacao farmers, both long term loans (for the establishment of new farms) and short term loans (to finance farm inputs).
What is our funding objective?
As a greenfield NBFI, AFC has made progress in introducing products and processes to support its cocoa farmer client-base with appropriate financial services. With these operations up and running, the next challenge is to position AFC for the future and to (a) make operations more sustainable by diversification into different sectors, and through development of alternative products in order to minimize concentration risks; and (b) to contribute to the success of their clients’ businesses and livelihoods, with the aim of reducing credit risk, by offering deposit products and insurance services. The aim of this project is to do so by deepening AFC’s organizational strategy.
Why do we fund this investment?
This project is highly aligned with FMO’s strategy as it will benefit rural farming communities that are presently under- or unbanked through the provision of credit and other financial services.
More investments
| Date | Total FMO financing |
|---|---|
| 12/23/2022 | USD 2.00 MLN |
- Website customer/investment
- http://www.kennemerfoods.com/contact/
- Region
- Asia
- Country
- Philippines
- Sector
- Agribusiness, Food & Water
- Effective date
- 6/26/2017
- End date
- 1/30/2019
- Total FMO financing
- EUR 0.02 MLN
- Funding
- MASSIF
-
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) - C