Cosem produces food processing machines for the local market

100% financed

Already raised € 0

Requested budget 2023 € 36.000

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Project information

Project code

2023 L8

Sector

Agriculture & Food industry

Funding

Loan

Country

Benin

Location

Abomey Calavi

The entreprise

Since 2016, COSEM has been involved in designing, producing, providing after-sales service for food processing machines and complete production lines. They also offer consultancy services in this field, and have a goal is to transition from artisanal to industrial production by acquiring new machine tools.

COSEM is founded and led by Bryan MEMEVEGNI, an experienced industrial engineer with 16 years of expertise. He has consulted for NGOs like Rikolto and the PACOFIDE project, as well as private clients. The business has plans to hire a Community Manager and a Chief Engineer to oversee production coordination.

The business project

Improving the quality of life in Benin depends on keeping more of the agri-food value chain within the country. This means having affordable, reliable, locally-made food processing machinery is essential.

Currently, locally designed machines have technical issues, like not meeting user needs, low productivity, excessive power consumption, and mechanical imperfections. On the other hand, imported machines are well-built but expensive, lack good after-sales service, and have slow access to spare parts.

COSEM aims to bridge this gap by offering high-quality machines and food processing lines tailored to each client's needs, all made in Benin. With also additional services like custom machine design, on-site installation support, and maintenance with readily available spare parts.

COSEM is expanding, with investments set to boost sales starting in March 2024.

Why OVO believes in this project

COSEM's new product line improves food processing quality, reduces costs, and supports local businesses by offering high-quality machinery.
This aligns with our support for Goal #2 (food quality) and Goal #8 (job creation) by producing top-notch agri-food machinery, enhancing hygiene, and reducing electricity usage.
In 2024, new machinery installation will boost turnover and lower the break-even point from 84% to 52%. Consulting revenue is expected to double due to upcoming projects.

In summary, COSEM enhances food processing, creates jobs, and ensures financial sustainability.

Requested investment

COSEM requests a loan of 36,000 € to source in Europe and install machine tools for metalwork to increase and industrialize production

Topic

Logistics & trading unit
Income generating
Innovative
Locally based
Empowerment
Employment
Well-being

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