DILCAJOU - Technical and Market Due Diligence of the Moringa Fund Investment Project in Tolaro Global (Beninese Cashew Processing Company)

November 2016
November 2016
Project cost
15 000 €
Role in the project
Cashew expertise




Agroprocessing Market



Main goals

As part of an investment project of the Moringa Fund in the Beninese cashew processing company Tolaro Global, RONGEAD was commissioned to carry out the technical and market Due Diligence to validate the investment project’s assumptions and strategies

Specific objectives

  • Complete technical audit of TOLARO Global SARL
  • Audit of the business plan proposed by the Moringa Fund and Tolaro, and validations of working hypotheses
  • Study of the world cashew market, with a focus on Benin


TOLARO Global SARL The Moringa Fund


** R1. ** Evaluate and make recommendations on the project’s strategic directions
** R2. ** Propose technical and managerial improvements


** A1. ** Evaluate the overall level of organization and performance of Tolaro regarding cashew shelling and export (supply system)
** A2. ** Evaluate the plant's performance from a technical and organizational point of view, and evaluate the standards implemented in terms of health and safety
** A3. ** Assess the project's market prospects (trends, supply and demand, global and sub-regional competition, price risks)
** A4. ** Carry out a complete market study positioning the investment project within global competition

Related people


Cédric Rabany

Holder of a Master of Science, "Agricultural Engineer and territories development" from the Institut Supérieur d’Agriculture (ISARA Lyon), he brings his expertise in agro-food/agricultural sectors' analysis and development, strengthening of supplychain actors (producers, private/public actors, agro-food industries...), socio-economic analysis of agricultural chains and his great knowledge of companies in these markets

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Project officer / Agriculture & Market / France

Pierre Ricau

Holder of a Master Degree in "Agricultural Development and Economic Policies" from the Institute of Development Studies (IEDES), Paris 1 Panthéon Sorbonne University and AgroParisTech. He brings his expertise in agricultural market analysis (especially cashew, sesame, shea, cocoa, hevea, corn, rice and onion), development of agro-food sectors, training engineering and consultancy on public agricultural/agro-industrial policies

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Country representative in Côte d'Ivoire

Benjamin Garnier

Agricultural Engineer, specialised in "quality of the environment and resources management", from the French National School of Agricultural Science and Engineering of Toulouse (INP ENSAT). He brings his expertise in feasibility studies for investment funds, agricultural markets studies and analysis of value chains

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