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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Swiss developmental organization enhances agro-processing in Tanzania with US$430k investment

TANZANIA – Helvetas, an independent Swiss development organization is seeking to inject Tsh.1bn (US$430k) in the construction of agro-industries in Tanzania to be ran by women and youth growers of vegetables and fruits in the country. The initiative undertaken through the Kibowavi project has also received support from the government, with the Mbeya regional authority handing over five acres for construction of 50 small and medium industries. The five acres were handed over to the Tanzania Food Processors Association of Women Entrepreneurs (Tafopa), reports Daily News. Mbeya Regional Commissioner (RC) Albert Chalamila…

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Nigerian rice farmers acquire agro-allied incentives worth US$1.6m

NIGERIA – Nigeria’s Agro Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS) project has commenced the free distribution of agro-allied incentives worth N633m (US$1.6m) to rice farmers in Kogi State aimed to boost production. APPEALS is a six-year project developed by the Federal Ministry of Agriculture and Rural Development (FMARD) in collaboration with the World Bank and other stakeholders. The Project is in line with the Agricultural Promotion Policy (APP) 2016-2020 also known as the Green Alternative, which built on the legacy of the Agricultural Transformation Agenda (ATA); and plans to…

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