Impact investor I&P invests in Malagasy agro-food processor Soafiary

MADAGASCAR – Malagasy agro-food processor, Soafiary, has clinched an investment from impact investment group, I&P through its I&P Afrique Entrepreneurs 2 (IPAE 2) fund, to enable it pursue its development strategy. IPAE 2 is pursuing an active pace of investment, targeting start-ups and SMEs in the development phase in sub-Saharan Africa, requiring financing of up to €3 million (US$3.5m). Founded in 2006 by the Malagasy promoter Malala Rabenoro, Soafiary specializes in the sourcing, processing and commercialization of cereals (maize, rice) and leguminous plants (beans, cape peas, lentils, soybeans) for local and…

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