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Raised US$900K and provided technical assistance to empower women in farming.
East Bali Cashews is Bali’s first large-scale cashew processing facility. This eco-friendly enterprise processes and sells cashews, creating employment for women who are mostly illiterate and have never had formal, salaried employment.
IIX prepared EBC for their desired expansion. Together with Shujog and KKR, EBC received expert advice and assistance for financial modelling and business planning. A critical part of it was understanding and being able to monitor EBC’s positive social impact. Shujog found that for every $1.00 invested on EBC in 2013, the company created an additional $0.24 in social value, such as by hiring additional villagers and providing them first-time wages.
As a result of this effort, East Bali Cashews raised $900,000 in new financing. Now, it is building a second factory, purchasing 16 additional machines, tripling the size of its warehouse and hiring 100 new employees.
What East Bali Cashews says:
“By working with KKR, IIX and Shujog, we got to the next level in terms of funding and expansion. Their commitment to us enabled us to grow faster than we could have on our own.”
– EBC founder Aaron Fishman