WACAPOL Mills Limited
WACAPOL Mills Limited (WML) is an established company, founded in 2011 by Mark Hadcock and Anthony Berendt. The company designs, manufactures and installs machinery that is used in the palm oil industry and is uniquely designed for smaller-scale oil producers. They provide a complete, simple and economical processing solution that achieves industrial standards of extraction efficiency and product quality.
WACAPOL’s target market is Africa, having fulfilled major contracts to date in countries such as: Zambia, Ghana, Madagascar and Nigeria.
TAEFL started working with WACAPOL in November 2017 to support the installation of a palm oil mill in Nigeria. Initially, WACAPOL had contacted TAEFL for funding and TAEFL has been able to support the company by using a Letter of Credit (LC) as security and leverage the LC to get funding.
TAEFL has worked closely with WACAPOL by taking time to understand the business, the processes and by providing advice on specific areas, particularly helping with the letter of credit. Using their in-house expertise and years of knowledge in this field, TAEFL has guided WACAPOL step by step throughout the process of issuing the LC, which ensured that WACAPOL was not exposed at risk. To read more about LCs and how to get it right the first time, be sure to visit:
Since then, TAEFL has been paying different suppliers throughout the manufacturing process. The first shipment has already reached Nigeria and TAEFL got repaid from the first payment under the LC.
TAEFL is continuing to support WACAPOL and is looking forward to the completion of the project, which is expected to be the end of August 2018.
For more information on WML and the products that they offer, please visit their website at:
Short video of their most recent installation is available at https://www.youtube.com/watch?v=Qx3uB76KlzA.
There is nothing more rewarding for TAEFL than seeing businesses succeed!
Thank you for standing with us through the downs and ups of this challenging transaction, our first involving a letter of credit and working capital funding, and enabling a successful conclusion on time and to budget.Anthony Berendt