Fresh mango exporter to expand into the European snack market
Grantee Recipient: Fruiteq Location: Bobo Dioulasso, Burkina Faso Grant Amount: US$425,000 Investment Size: US$4.6 million
Timini is a proposed joint venture between Fruiteq and MPAK Pty Ld. that will produce dried fruit products for sale in the European snack market. The company will purchase fruit from farmers in Burkina Faso, Cote D'Ivoire, and Mali, process it, then sell it to importers and supermarket chains in Europe. Timini aims to become the largest fruit processing business in Burkina Faso, exporting nearly 900 tons of dried products every year. As it grows, Timini will create hundreds of jobs in Bobo Dioulasso and purchase millions of euros worth of fruit from small farmers in the region.
AFT support allowed Fruiteq and MPAK to take advantage of consulting services from agribusiness experts, refrigeration engineers, post-harvest handling and horticultural specialists, and financiers. This team of international experts made several trips to Bobo Dioulasso to explore the risks, opportunities, contingencies, and strategic considerations surrounding the new joint venture. This allowed Fruiteq and MPAK to develop a thorough understanding of their options before deciding to pursue an opportunity in dried fruit processing. By providing this kind of support, the Agriculture Fast Track has helped to clarify a vision for Timini's future and validate the strength of its business model, providing a basis for the growth and development that the AFT was created to facilitate.