Private equity fund unveils US$9.19m to support agribusinesses in Uganda

Private equity fund unveils US$9.19m to support agribusinesses in Uganda

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UGANDA – The Yield Uganda Investment Fund, an European Union (EU) backed agribusiness impact fund has injected US$9.19 million (UGX34bn) into Uganda’s agribusiness sector. The new financing follows the joining of Soros Economic Development Fund, part of Open Society Foundation (OSF) and…

Rwanda partners with IFAD in US$24.7m project to enhance climate resilience

Rwanda partners with IFAD in US$24.7m project to enhance climate resilience

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RWANDA – The International Fund for Agriculture Development (IFAD) has partnerd with Rwanda in a new US$24.7 million project that aims to improve food and nutrition security, climate resilience and raise incomes by increasing production.   The projects dubbed “Kayonza Irrigation and Integrated…

European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

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KENYA – The European Investment Bank (EIB) has unveiled a US$66.2 million (Kshs6.62 billion) financial package for onward lending to farmers and agro-processors servicing demand-driven contracts in Kenya. Dubbed the Kenya Agriculture Value Chain Facility, the financing program was launched in Nairobi…

French investor Creadev acquires stake in Twiga Foods worth US$5M

French investor Creadev acquires stake in Twiga Foods worth US$5M

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KENYA – Creadev, a French-based investor, has acquired an undisclosed stake worth US$5 million (Sh500 million) at Kenya’s leading online grocery platform, Twiga Foods. Creadev is a global long-term investment firm wholly funded by the Mulliez family. According to a statement announcing…

Tanzania’s NMB Bank sets aside US$217.65m credit facility for dairy sector

Tanzania’s NMB Bank sets aside US$217.65m credit facility for dairy sector

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TANZANIA – The NMB Bank, a commercial bank in Tanzania, has set aside US$217.65 million (Tshs500 billion) to finance milk processing ventures in a bid to boost several milk processing plants in the country. The financial institution said that the funding, which…

AfDB approves US$113.42m to facilitate agriculture commercialisation in Africa

AfDB approves US$113.42m to facilitate agriculture commercialisation in Africa

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AFRICA – The African Development Bank (AfDB) has approved a US$113.42 million partial credit guarantee for the development of commercial agriculture projects across the continent. In a statement, AfDB said the funding will be disbursed into various countries through the African Agriculture…

IFC to lend Kenyan tea agency US$10m to improve trading operations

IFC to lend Kenyan tea agency US$10m to improve trading operations

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KENYA – The International Finance Corporation (IFC) is set to lend the Kenya Tea Development Agency Holdings (KTDA) US$10 million (Sh1 billion) credit facility to help the agricultural firm improve its tea trading operations. The funds will form part of KTDA’s planned…