• Ghana
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 16, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Niche Confectionery Ltd
The holder of the loan, grant, or other investment.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 9.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 9.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 3, 2020

Disclosed by Bank Jun 17, 2019

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Project Description

Cocoa is Ghana's most important agricultural product. However, traditionally, a high percentage of cocoa beans is exported with low- to no value added locally. Supported by this investment, Niche will expand its range of activities to cover the entire value chain - from bean-to-bar - within Ghana. This will lead to further employment, technical know-how, and value addition within the cocoa sector, all of which contribute to the country's socio-economic development. The USD 9M facility will be used to purchase an instant powder line, a ready-to-drink line, and equipment for producing chocolate spreads.

Investment Description
Private Actors Description

Niche Confectionery Ltd. is a Ghanaian producer of chocolate products. Niche Confectionery is owned by Niche Cocoa Industry Ltd., the largest independent cocoa processor in Ghana with a capacity of 90.000 tons per year. The group was founded in 2011 and is 100% Ghanaian owned. Niche Confectionery produces finished chocolate products such as bars, spreads, and drinks for the local market as well as export.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Niche Confectionery Ltd Client -

Contact Information

No contact information provided at the time of disclosure


Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: