MCB gives bridge loan to producer of cactus oil

Mauritius Commercial Bank (MCB) has provided a bridge loan to OrgaEarth, a Madagascar-based producer of cactus oil.

The bridge facility raised, to be followed by a multi-currency long-term loan, will allow the company to fund the expansion of its activity.

Capitalizing on Southern Madagascar abundant cactus resource, OrgaEarth aims at producing high-quality prickly pear oil with unique skincare benefits.

The project will combine strong financial performances with a unique social and environmental impact.

Impact will notably be achieved through the sustainable and responsible sourcing of prickly pear seeds, which will provide Southern Malagasy rural populations with a stable source of income.

Okan intervened as the sole financial advisor to OrgaEarth on this transaction, with Amaury de Féligonde (Managing Partner), Hicham Alaoui (Manager) and Hubert Vermeren (Associate).

Amaury de Féligonde, Managing Partner at Okan Partners, said: “As a co-founder of Okan Partners, a financial advisor dedicated to Africa, I am particularly proud that we have helped our client OrgaEarth raise these funds. They will be used to further develop a company which has a profound and lasting economic and social impact in the Southern region of Madagascar, an impoverished region which is in particular need of this type of projects”.

Original article at Africa Global Funds