Invest International’s guarantee unlocks Rabobank financing for Baltussen

July 01, 2024

Invest International has provided a guarantee to Baltussen, the oldest cannery in the Netherlands, for the expansion of their vegetable canning factory in Moshi, Tanzania. This factory produces vegetable jars for the European market. This guarantee is funded through the Dutch Good Growth Fund (DGGF), which we manage on behalf of the Minister of Foreign Affairs, and it enables Rabobank to finance this expansion in Tanzania.

‘Duurzame Koploper’

Baltussen, established over 150 years ago, is a “duurzame koploper” (sustainability leader) according to Rabobank. This is due to the company’s focus on new food trends, which are more organic (60% of their total produce), use less salt or sugar, and look at protein-rich products to increase the nutrient value of meals (as meat replacements). Ultimately, this contributes to a healthier and more sustainable global food supply.

Economic and Development Impact

This project will have several positive key impacts in both the Netherlands and Tanzania:
Employment: The investment will create 308 direct supported jobs, mainly for women. The indirect employment is estimated at over 600 jobs.

  • Dutch Economy: The investment is expected to lead to a significant revenue increase, which will contribute to the Dutch economy.
  • Decreased Environmental Impact: The investment will help minimize environmental impact as canning the vegetables and fruit in Tanzania allows them to be transported to Europe by trucks and ships instead of planes.
  • Reduced Food Waste: The company will reduce food waste by buying all production from local farmers and canning it, which significantly increases the shelf life of the produce.
  • Responsible Production: Farmers are encouraged and trained to work according to the G.A.P principles and to reduce the use of pesticides. A large part of the production is organic by default.

Want to know more about this case?

Miriam Valstar Investment Manager
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