PE firm Adenia Partners acquires Kenya’s Red Lands Roses

KENYA – Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Altilands SA, the parent company of Red Lands Roses, a leading grower of premium fresh-cut roses in Kenya. Red Lands is internationally recognized for its green horticultural practices that respect people and the environment. The financial terms of the transaction were not disclosed. Established in 1996 by an agronomist, Isabelle Spindler, Red Lands operates a farm of 28 hectares, 35 kilometers northeast of Nairobi, at approximately 1,565 meters above sea level. Red Lands’ premium…

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Smallholder farmers, rural cooperatives secure US$34m from Zanaco to accelerate investment

ZAMBIA – Smallholder farmers and rural cooperatives across Zambia will benefit from a new €30 million (US$34.81m) initiative from Zanaco and Team Europe to accelerate agricultural investment launched in Lusaka and Luxembourg. The new initiative will improve agricultural productivity, upgrade agricultural processing, and support a sector severely impacted by COVID-19 challenges and is supported by a best-practice assistance program. The financing scheme will be managed by Zanaco and is backed by the European Union and European Investment Bank, as part of the broader Team Europe support for sustainable commercialisation of…

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InfraCo Africa commits additional US$2.4m in Bonergie Irrigation SAS, acquires large minority shareholding

SENEGAL – InfraCo Africa, an investment company and part of the Private Infrastructure Development Group (PIDG), has signed a Shareholders’ Agreement and a Loan Agreement with Bonergie Irrigation SAS to continue supporting the scale-up access to solar-powered irrigation solutions in Senegal. Under the new agreements, InfraCo Africa will hold a large minority shareholding in Bonergie Irrigation, committing an additional US$2.4 million to scale up farmers’ access to solar-powered irrigation solutions in Senegal. “We are excited to continue working with our partners at Bonergie Irrigation to substantially scale up our offering…

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Agribusiness firm InspiraFarms opens regional office in Harare

ZIMBABWE – InspiraFarms is expanding its presence across Africa with the establishment of a regional office representation for Southern Africa, based in Harare, Zimbabwe. InspiraFarms’ team designs first-mile, on-farm pre-cooling cold chain and food handling solutions, which are made up of the best European technologies. Zimbabwe has become a key market for InspiraFarms, with the Zimbabwean horticultural sector growing rapidly in response to the increasing demand for fresh fruit and vegetables in the European Union (EU), UK, Middle East, Far East and regional markets. The expansion in demand is also…

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Agri-tech startup Releaf raised US$4.2m in seed equity to scale its technology solutions

NIGERIA – Releaf, a startup that develops proprietary hardware and software solutions to drive the industrialisation of food processing in Africa, has raised US$4.2 million in seed equity and grant funding to support the development and scaling of technology solutions for the oil palm sector. Agri-tech startup Releaf was founded in 2017 and took part in the Y Combinator accelerator programme in Silicon Valley the same year, but only started operations in the oil palm space in 2019 and deployed its proprietary technology in January of this year. The startup’s…

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James Finlay divests from flower business with sale of Kericho farm

KENYA – Black Tulip Group has bought Kericho-based flower farm from James Finlay Kenya for an undisclosed amount as the latter focuses on its tea and coffee business. The sale will see workers at the Lemotit farm in Londiani, Kipkelion East, which produces roses and cut flowers for the United Kingdom and European markets, declared redundant. “The sale of Lemotit farm marks the end of Finlay’s restructuring to concentrate fully on the beverage market,” said Stephen Scott, Finlay Flowers General Manager. Black Tulip is expected to take over the business…

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Kenya Breweries unveils US$9.2m fund to boost sorghum production

KENYA – Leading alcoholic brewer Kenya Breweries Limited (KBL), has unveiled a KSh1 billion (US$9.2 million) fund to promote commercial production of a traditional sorghum variety that has been found a suitable alternative for brewing Senator Keg brand. The Nairobi Securities Exchange-listed brewer is targeting to recruit more than 15,000 farmers in western Kenya in its latest efforts to ramp up production volumes and the funds will be used in the promotion and provision of seeds and for buying sorghum from the farmers. According to KBL western regional agribusiness manager Eliud…

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AFDB to provide US$500 to support African women in agriculture

AFRICA – The African Development Bank (AfDB) has announced this expected to have provided close to US$500 out of which US$150 million by the end of 2021 that would be channelled to women in agriculture in Africa. It said in a statement that the fund would help women in agriculture partner public and private sector to develop alternative financial models to increase the ability of women farmers to access the financing and skills they need to grow sustainably. “Indeed, in sub-Saharan Africa, the financing gap for African women in agricultural…

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TADB, Clinton Development Initiative partner to unlock soybean value-chain in Tanzania

TANZANIA – Tanzania Agricultural Development Bank (TADB), has entered into a strategic partnership with the Clinton Development Initiative (CDI), an initiative of the Clinton Foundation, that will allow the agri-bank to disburse up to TZS1.15 billion (US$500,000) to unlock the soybean value-chain in Iringa Region, Tanzania. According to the Memorandum of Understanding (MoU) signed between the two parties, the partnership aims at enhancing financial accessibility to 29 Agriculture Marketing Cooperatives (AMCOs), which will impact 2,900 CDI supported farmers engaged in the production and marketing of soybeans, for a period of…

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OPEC Fund signs US$30m loan to boost productivity for smallholder farmers in Uganda

UGANDA – The OPEC Fund for International Development has signed a US$30 million loan facility agreement with Uganda to help improve food security and incomes for more than 120,000 smallholder households in the northern and north-eastern regions engaged in the production and marketing of oilseeds (groundnuts, sunflower, sesame and soy).   The National Oil Seeds Project is co-financed by the International Fund for Agricultural Development (IFAD) and the Ugandan government. The Ugandan government’s latest Agricultural Sector Strategic Plan highlights oil seeds as part of the four strategic commodities expected to…

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