Processing of high value add products derived from cashew nuts and peanuts
Business Model Description
Build and operate semi-indsutrial or industrial processing units for cashew nuts and peanuts processing in high value products such as vegetal oil, spreads, snacks etc. Revenues are drawn from the sale to distributors or large-scale retail through orders or direct sales to consumers.
Expected Impact
Operate cashew and peanuts modern processing units increases farmers revenue, exports of value added agricultural products and the sector's contribution to GDP, while empowering women and youth and limiting rural exodus.
How is this information gathered?
Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.
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Country & Regions
- Senegal: Dakar
- Senegal: Nord
- Senegal: Centre
- Senegal: Sud
Sector Classification
Food and Beverage
Development need
Senegal faces low food sovereignty and imported 70% of its food products in 2024. It also faces low food security with 21% of the population being food insecure, in 2023. The sector is also characterized by a low productivity, contributing 15.5% GDP in 2024. Finally, the sector is a significant contributor to GHG emissions but is vulnerable to climate change (1, 2, 3, 4).
Policy priority
The Strategie Nationale de Developpement 2025-2029 aims at increasing the agricultural productivity and fostering its modernization. The Stratégie Nationale de Sécurité Alimentaire et de Résilience 2015-2035 highlights the need for increased and diversified agricultural production as well as the importance of food processing and conservation to enhance food security (5, 6).
Gender inequalities and marginalization issues
Women represent more than half of the country’s labor force in the rural sector and significantly contribute to agricultural production, being highly active in processing and marketing of agricultural, livestock and fishery products. Yet, only 6% of them own agricultural land. For the others, their access to land largely depends on men relatives, who owns the land, affecting their land tenure security. Coastal agricultural communities in Senegal also face heightened climate risks due to sea level rise, flooding, and erosion, adding to broader national vulnerabilities linked to erratic rainfall, rising temperatures, and desertification. Finally, climate change reinforces food insecurity particularly for the poorest households (7, 8, 9, 17).
Investment opportunities introduction
Senegal agricultural sector contributed 15.5% of GDP in 2024. To increase the sector productivity, investments in means and tools of production is key. It is particularly the case in agricultural mechanization, adapted storage and water management for agricultural production (5, 10).
Key bottlenecks introduction
Senegal’s agri-food industry faces climate vulnerability, low processing, poor infrastructure, and low mechanization, as well as weak market access, price volatility and weak regulations. The low access to finance and insurance reinforced farmers vulnerability. Strong dependence on imports and competition also are structural challenges for the sector (11, 12, 13)
Food and Agriculture
Development need
Senegal’s agricultural sector faces low productivity with 30% post-harvest losses and low processing capacity, resulting in productivity 30% below the national average and low added value. Post-harvest loss cost USD 167 million annually. Climate change will affect traditional cash crop production such as ground nuts with decrease in yields between 5-25% (11, 14, 15, 22).
Policy priority
The Strategie Nationale de Souverainete Alimentaire (2024–2028) aims at reducing food imports and ensure self-sufficiency in key food products, such as cereals, key vegetables, eggs and milk production. The Stratégie Nationale d'Industrialisation encourages increased agricultural product processing through the development of infrastructures (12, 16).
Gender inequalities and marginalization issues
Poverty is highly concentrated in rural groundnut production basins—especially Diourbel, Kaolack, and Thiès—which together host about one-third of Senegal’s poor, compounding climate vulnerability for smallholders, including many women. In addition to climate vulnerability (floods, drought and storms), women in the agricultural sector also face significant challenges related to their land tenure rights and their limited access to financing mechanisms, production inputs, and extension services, as well as restricted market access. Finally, climate shocks particularly affects the livelihoods of rural households relying on livestock and agriculture for subsistence (14, 17, 18, 21).
Investment opportunities introduction
Senegal’s Climate Smart Agriculture Plan prioritizes investments in solar irrigation, climate-resilient seeds, storage, and climate services to boost the sector's modernization and resilience. Processing and high-value agricultural and fish products are also key to increasing the sector value added (9, 19, 20).
Key bottlenecks introduction
Limited irrigation, degraded soils, low mechanization, and weak rural infrastructure are major challenges to the agricultural sector productivity, as well as difficulties in feeding and watering livestock, problems related to animal health, access to quality seeds and intrants and the high climate vulnerability, particularly threatening rural livelihoods (12, 13).
Processed Foods
Pipeline Opportunity
Processing of high value add products derived from cashew nuts and peanuts
Build and operate semi-indsutrial or industrial processing units for cashew nuts and peanuts processing in high value products such as vegetal oil, spreads, snacks etc. Revenues are drawn from the sale to distributors or large-scale retail through orders or direct sales to consumers.
Business Case
Market Size and Environment
USD 100 million - USD 1 billion
5% - 10%
In 2023, the production of cashew nuts reached 148 443 tonnes in Senegal (29).
In 2024, Senegal exported 121,798 tonnes of peanuts, generating a revenue of USD 107 million (XAF 65,3 billion). The same year, Senegal exported 79,076 tonnes of cashew for a revenue of USD 92 million (XAF 52 billion) (30, 31).
The peanut-based snacking market in Senegal presents a growth profit margin of 39,3%. In 2025, sales of processed food products grew by 7.7% compared to the same period in 2024 (32, 34).
Agricultural processing in Africa generated about USD 280 million in added value, while raw cashew nut production has grown 7–8% annually over the past 15 years. In West Africa specifically, cashew production increased by 10% over the past decade, outperforming other regions (28, 33).
Indicative Return
> 25%
20% - 25%
A study in Nigeria showed a Rate of Return (RoR) of 38.1% for 1 kg of value-added cashew kernel, 37.4% for cashew kernel, and 34.1% for cashew nut. In Senegal, an analysis for peanuts processing tends towards a 20% ROI (35, 36).
According to the African Cashew Alliance, investment in fully-mechanised large scale processing units (above 30,000 metric tonnes a year) presents a ROI between 25 and 35%. For a semi-mechanised model (between 5 to 10,000 metric tonnes a year), ROI is between 20 and 28% (28).
Investment Timeframe
Medium Term (5–10 years)
Based on an AfDB project in Burkina Faso aimed at strengthening the cashew value chain, return can be expected from the eight year over a financing of 25 years (37).
Ticket Size
> USD 10 million
Market Risks & Scale Obstacles
Business - Supply Chain Constraints
Market - High Level of Competition
Market - Volatile
Impact Case
Sustainable Development Need
Exports of cashew nuts generated a revenue of USD 125 million (XAF 70 billion) in 2023. Raw cashew nuts and peanuts dominates the export market, limiting the added value generated by the country for these cash crops. Indeed, processing of cashew nuts remains marginal at 3% of the local production (41).
The cashew and peanut sectors are in majority composed of small-scale units, mostly active in the production of kernels, limiting growth of a high-value sector and regional economic spillovers. Processing remains marginal with small units processing 50 tonnes/year and less than 5 industrial units processing 1,000 to 2,400 tonnes/year (39).
Gender & Marginalisation
Only 15.2% of women and 15.1% of youth have access to farmland in Senegal, and most operate without formal land titles, limiting investment opportunities and tenure security. Women rely twice as much as men on borrowed land (10.3% vs. 4.6%). Women’s land access is higher in Casamance (up to 46% in Sédhiou), but processing capacity there remains marginal, with poorest nut quality in Kolda reducing market value (42, 43).
Senegal presents strong regional disparities. Control of aflatoxins and quality standards remains weaker among small processors, exacerbating a regional disadvantage in terms of access to premium markets (42, 43, 44).
The poverty concentration in the groundnut production basins is significantly higher than in other regions. According to the latest available data, 74.6% of the poor live in rural areas, and the Diourbel-Kaolack-Thiès region alone covers nearly one-third of all poor households (18, 45).
Expected Development Outcome
Processing of cashew and peanuts will enable a higher value added of the value chains and improve revenues from exports. Indeed, the revenue of a kilo of cashew exported raw is of USD 1,24 (XAF 700), while once processed it can reach USD 18-26 (XAF 10,000-15,000) (29).
Investments in cashew and peanut processing will support Senegal's objective to process 50% of cashew. It will also strengthen local processing and value chain structuring to increase profitability across actors (producers, collectors, processors, traders) and attract local and foreign investment, as seen in the example of the peanut value chain in Kenya (48, 49).
Peanuts and cashews provide nutrient-rich oils and proteins that can improve dietary diversity and cardiovascular health, if safe processing standards are met (50).
Gender & Marginalisation
Local processing of peanuts and cashews can generate stable rural jobs for women, particularly in Casamance, reducing rural exodus and economic vulnerability. While kilogram of peanuts was fixed to USD 0.5 (XAF 305), kilogram of peanut oil is fixed between USD 2.4-6 (XAF 1,348-3,332), creating a large margin between the raw and the transformed product (51, 52, 53, 54).
An inclusive value chain reduces gaps in access to income, resources, and training between women and men, while raising the recognition of women’s role in the rural economy (46).
Regionalized processing strategies can support the integration of marginalized groups into higher-value nodes, strengthening economic resilience in poorer production basins through a gender sensitive approach (47).
Primary SDGs addressed
2.3.1 Volume of production per labour unit by classes of farming/pastoral/forestry enterprise size
In 2022, the productivity of small-scale food producers in Senegal was 10.3 measured as agricultural output per labor day (in Purchasing Power Parity, which adjusts possible differences in local purchasing power) (55).
Senegal plans to locally process at least 50% of its' cashew production in the next 5 years (58).
8.1.1 Annual growth rate of real GDP per capita
In 2021, the net average annual income of small producers was of USD 500 (XAF 278000), compared to USD 3,430 (XAF 1.9 million) for medium or large producers (56)
9.2.1 Manufacturing value added as a proportion of GDP and per capita
In 2024, manufacturing value added was 15.7% of GDP and USD 237.37 (constant 2015 USD) per capita (55).
Based on the national industrialization strategy, Senegal aims to strengthen its manufacturing and processing sectors through high-value production, increased use of local inputs and expansion of agro-industrial platforms (16).
Secondary SDGs addressed
Directly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Indirectly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Outcome Risks
Insufficient control of aflatoxins in peanuts may harm public health, limit exports, and damage trust in local products (39).
Concentration of processing in a few regions could exacerbate territorial inequalities, leaving weaker basins such as Kolda marginalized.
Mechanization and industrial scaling could exclude smallholders if they lack training or access to capital.
Gender inequality and/or marginalization risk: Without inclusive governance, women’s work in artisanal transformation risks being undervalued
Impact Risks
Climate change (drought, irregular rainfall) could lower yields and affect raw material supply for processors.
High energy costs, poor infrastructure, and limited cold storage may prevent processors from reaching expected profitability, therefore affecting the positive impact of the business model.
Gender inequality and/or marginalization risk: Failure to ensure gender equity in land access, training, and financing could perpetuate women’s marginalization.
Impact Classification
What
Scaling up local processing of peanuts and cashews increases value addition, improves farmers' incomes and enhances national self-sufficiency in oils and derived products.
Who
Directly impacts cashew and peanut farmers, including smallholders, women processors and cooperatives; indirectly benefits rural youth, local consumers and regional export markets.
Risk
Weak quality control, climate shocks, and inequitable benefit-sharing could reduce the inclusivity and sustainability of outcomes.
Contribution
Contributes to increasing exports contribution to 30% GDP by 2029 (5).
How Much
The Government aims at processing 50% of the locally produced cashews (58).
Impact Thesis
Operate cashew and peanuts modern processing units increases farmers revenue, exports of value added agricultural products and the sector's contribution to GDP, while empowering women and youth and limiting rural exodus.
Enabling Environment
Policy Environment
Stratégie Nationale de Développement 2024-2029: promotes the development of high value added sectors, as well as the development of manufacturing industries (5).
Stratégie Nationale de Souveraineté Alimentaire 2024-2028: identifies the peanut value chain as strategic, promoting table peanuts, oilseed peanut through the modernization of small-scale artisanal units and facilitate the crude oil supply to the agro-industry (12).
Politique et strategie d'industrialisation du Senegal 2021-2035: aims at improving the trade balance for agricultural products, through the enhancement of the industry competitivity and increased processing of raw agricultural produce (16).
Financial Environment
Financial incentives: To support the cashew nut local processing the Government recently announced the establishment of a USD 0.3/kg premium for cashew nut transformed in the country. Additionally, exporters of raw cashew nuts will have to pay an additional tax of USD 0.06 (XAF 32)/kg (62).
Financial incentives: In 2024, La Banque Agricole received part of the USD 167 million financing from the Government to support access to finance of agricultural producers. The Bank offers a credit line dedicated to peanut processing covering the supply in peanuts, storage, logistics and other needs up to 100% of the exploitation costs over 12 months (70, 71).
Financial incentives: BNDE supplies financial services supporting the agricultural value chain. It includes leasing services over 12 to 60 months and factoring modalities, alongside other financial offers with a focus on the peanuts and cashew nuts sub-sectors (72).
Financial incentives: The Investment Code grants VAT suspension and refund, tariff exemptions for 3 years in Dakar/Thies and 5 years elsewhere for SME investments over USD 26,600. Strategic agricultural projects may receive additional government-negotiated benefits. Factory can also receive duties and tax suspension and exemptions when established in ZES (68, 69).
Other incentives: In application to the law n°29 / 2005, surtaxes are set on imported vegetal oil, supporting the local production. These taxes are at 25% for palm oil, 15% for soy, sunflower, cotton and rapeseed (63).
Regulatory Environment
Loi n° 2004-16 portant loi d’orientation agro-sylvo-pastorale: allows farmers to gather in professional organization, grants famers social protection and states that agricultural diversification should promote exports while ensuring import substitutions options for the local population (59).
Loi n°2001-282 portant Code de l’Environnement: imposes to all industries an ecologically sound waste management of waste and sets that the waste producers is responsible for their management. For their disposal or other forms of treatment requires an authorization (60).
Loi 66/48 du 27 mai 1966, relative au contrôle des produits alimentaires et la répression des fraudes and décret 2005-913 du 12 octobre 2005: the production and processing of products for human consumptions requires an authorization and is should be control by the administrative authority (61, 66).
Décret 2005-913 du 12 octobre 2005 rendant obligatoire la norme générale codex pour l’étiquetage des denrées alimentaires préemballées: renders mandatory the CODEX labelling on the product's name, list of ingredients, weight, company's name and address, date and conservation instructions (67).
Marketplace Participants
Private Sector
LYSA & CO, ACASEN, SEPT (Société d’Exploitation des Produits du Terroir), Sonacos
Government
Ministry of Agriculture, Food Security and Livestock, Ministry of Industry and Commerce, National Agency for Agricultural Integration and Development, Institute of Food Technology, Plant Protection Directorate (MAFL)
Multilaterals
GIZ, European Union, IFAD, International Trade Centre (ITC),
Non-Profit
IPAR
Target Locations
Senegal: Dakar
Senegal: Nord
Senegal: Centre
Senegal: Sud
References
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