[Mozambique] OPIC signs letter of interest to invest in Sunshine Nut
25-06-2019 07:18:36 | by: Pie Kamau | hits: 4353 | Tags:

The Overseas Private Investment Corporation (OPIC) and the U.S. Government’s development finance institution, announced during the the U.S.- Africa Business Summit, that the agency will explore a new project with Sunshine Nut Co., which specializes in cashew processing operations in Mozambique.

OPIC Managing Director for Africa Worku Gachou signed a letter of interest to finance the project at an event marking the launch of Prosper Africa, a new U.S. Government initiative to increase two-way trade and investment between the U.S. and Africa.

OPIC support for the project is subject to OPIC’s comprehensive project review process before it is finalized. Gachou was joined by Sunshine Nut Co. founder Don Larson and Interim Coordinator for Prosper Africa Matthew Rees.

“By connecting the country’s cashew growers with markets, Sunshine Nut is creating opportunities that empower farmers and help their communities prosper,” said Gachou. “We’re pleased to begin exploring a new project with the company that will drive economic growth and support communities across Mozambique.”

By strengthening the agriculture value chain, the project supports the mission of OPIC’s Connect Africa initiative to invest $1 billion in enhanced connectivity on the continent.

The 2019 Corporate Council on Africa (CCA) U.S.- Africa Business Summit takes place June 18-21. The summit serves as a forum for the U.S. and African private and public sector to connect, collaborate, and shape trade and investment policy.