In western Côte d’Ivoire, the cooperative SOCAK KATANA had everything needed to succeed: committed producers, a growing membership base, and an ambitious first export contract. All signs seemed green. All... except one: access to financing.
In western Côte d’Ivoire, the cooperative SOCAK KATANA had everything needed to succeed: committed producers, a growing membership base, and an ambitious first export contract. All signs seemed green. All... except one: access to financing.
"For our first export of 1,000 tonnes, we managed to buy the cocoa from the producers. But we lacked the funds to pay export taxes," explains Managing Director Savane Mamadou.
"I went to the bank, confident, but their answer was clear: without a track record with them, SOCAK was considered too risky."
Like many agricultural SMEs, SOCAK KATANA was caught in the "missing middle" trap: too big for microfinance, but too small or deemed too risky for traditional commercial banks.
It was in this context that Alterfin became, in 2016, SOCAK’s very first lender through the FEFISOL fund. A loan of over USD 200,000 enabled the cooperative to meet its export commitment and pay its producers on time.
This financing marked a real turning point: for the first time, SOCAK could plan its activities according to its available resources, making Alterfin a strategic partner in its development.
"The Alterfin loan was a breath of fresh air," recalls Savane. "It was a huge relief."
Beyond easing a cash flow problem, Alterfin's initial support strengthened SOCAK's credibility with the financial sector. This first loan established a solid repayment track record, enabling the cooperative to attract new partners.
"In 2017, Alterfin was our only lender. Today, we have five - and that's largely thanks to Alterfin's reputation in the social finance sector," shares Savane. "Working with Alterfin inspires confidence."
Today, SOCAK KATANA has evolved considerably.
The cooperative now manages its stocks strategically and has a diversified portfolio of financial partners. For its 2024-2025 campaign, SOCAK has raised over USD 10 million from several lenders.
Before Alterfin's support, the cooperative had 1,275 producers; it now counts 4,375. Cocoa production has risen from under 2,000 tonnes to over 15,000 tonnes.
This growth - facilitated by Alterfin's initial loan – allowed SOCAK to collect and sell more Fairtrade-certified cocoa, generating premiums redistributed to producers and invested in concrete community projects:
"Thanks to a community initiative by the cooperative, my children have finally received their birth certificates," explains Soumaila Zoromé, a producer in Ginglo-Zia.
"This essential document gives them a legal identity, which is indispensable for accessing education, passing their exams and benefiting from public services. That day, I felt a huge sense of relief, because without this document, their rights were at risk."
It's clear: SOCAK's transformation goes far beyond increased production.
By strengthening the capacities of rural communities, it creates lasting opportunities for producers and brings real changes to the daily lives of families and future generations.
For 30 years, we’ve been supporting businesses on the front lines of sustainable agriculture and rural development.
Being the first to provide financing - especially in the “missing link” of the agricultural sector - is one of the pillars of our impact. That’s exactly what we did with our partner SOCAK KATANA: our initial support helped unlock a stalled situation and set a virtuous cycle in motion.
Today, we support 57 agricultural enterprises, and in 42% of cases, we are the first to step in.
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