ZAMBIA – Dutch headquartered social impact investor Oikocredit has exited its investment in Zambian fish farm, Yalelo Limited.
Oikocredit has invested in Yalelo since 2014, supporting its growth from under 2,000 tonnes of annual tilapia production in 2014 to 12,000 tonnes of annual production currently.
Yalelo is now the largest sustainable aquaculture company in Africa, generating jobs and enhancing food security in the country.
By investing in Yalelo, Oikocredit wanted to help create the leading sustainable aquaculture company in Zambia, preparing Yalelo for expansion across the region in its next stage of growth.
As Oikocredit exits as a shareholder, Yalelo will continue to contribute to import substitution, food security, employment and private sector development, with the support of a new group of investors with a focus on social impact.
Adam Taylor, Chairman of Yalelo, said: “Oikocredit has been a valued partner and instrumental in growing the business from approximately 200 employees in 2014 to over 800 today.
“This was a stage of growth in which it can be difficult to access traditional funding sources. We valued Oikocredit’s guidance and oversight in the governance of the company during this time.”
Evert Ludding, Equity Manager for Africa and Asia at Oikocredit, said: “We’re happy to have supported Yalelo with its plan to increase food security and create jobs in Zambia.
“We wish the team at Yalelo all the best as they pursue the ambition to replicate the company’s success on a regional scale. Zambia continues to be a focus country for Oikocredit and we will continue to pursue and add value to more investments in the country, with the ultimate goal of creating sustainable social impact.”
Oikocredit, a social impact investor and worldwide cooperative, has over 40 years’ experience funding organisations active in financial inclusion, agriculture and renewable energy.
Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to sustainably improve their living standards.
Oikocredit finances over 670 partners, with total outstanding capital of over US$1 billion (at 30 September 2019).