Ugandan poultry farm Sekajja Agro clinches US$1.8m investment from Yield Uganda Investment Fund

UGANDA – Sekajja Agro Farms Limited (SAF), a Ugandan based poultry firm, has received UGX 6.79 billion (US$ 1.8 million) blended equity and long-term debt from Pearl Capital Partners’ managed fund, the Yield Uganda Investment. According to Pearl Capital, this is the fund’s tenth investment in the Ugandan agribusiness sector, to include US$1.54 million investment in AMFRI Farms, a pioneering organic farming; and US$2.5 million support to Pura Organic Agro Tech Ltd, on the cassava value chain. SAF’s main operations entails rearing of day-old-chicks (DOCs) until maturity and the distribution…

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Dairibord invests US$2 million to double UHT filling capacity of cartonised beverages

ZIMBABWE – Zimbabwe’s leading milk processor, Dairibord Holdings, has invested US$2 million in additional Ultra-High Temperature (UHT) filling and packing equipment, which will double capacity for cartonised beverages by year-end. Recently, the food processing company invested about US$1.5 million into an ammonia plant, which has since been commissioned and the technology was expected to see growth in ice-cream production, improving product portfolio mix and margin performance going forward. In a trading update for the quarter ended September 30, 2021, the milk giant said the business was geared to take full…

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Liberia’s fisheries sector receives US$40m support from World Bank to boost growth

LIBERIA – The World Bank has approved new financing to improve Liberia’s fisheries sector management and enhance the livelihoods of targeted beneficiaries and increase Government revenues. The Liberia Sustainable Management of Fisheries Project (LSMFP), funded by World Bank’s International Development Association (IDA) in the amount of US$40 million, comprising of US$20 million grant and US$20 million credit. The financing is aimed to improve conditions for fishermen and women, increase value addition for export, and help address economic vulnerability of the Liberian economy to climate change and vulnerability of food security.…

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B2B marketplace Vendease gets US$3.2m to help hotels, restaurants access food supplies in Africa

NIGERIA – Vendease, a Nigeria based online marketplace that allows restaurants and other food businesses to buy supplies straight from manufacturers and farms, has raised a seed round of US$3.2 million. The round was led by San Francisco-based venture capital firm Global Founders Capital and saw the partnership of Y Combinator, Hustle Fund, Liquid 2 Ventures, Hack VC and Soma Capital participated. Other individual local investors and early backers such as Paga CEO Tayo Oviosu, Remita CEO John Obaro and Magic Fund also took part in the round. The news…

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Brazil farmers plant more soybean incentivized by high domestic prices

BRAZIL – Brazil is expected to produce a record amount of soybeans as more farmers are incentiviced to grow the crop due to its attractive domestic price, according to the Foreign Agricultural Service of the US Department of Agriculture (USDA).  Area under soybean farming is estimated to grow to 40.5 million hectares for 2021/22, up from 39 million hectares in 2020/21.  As more acreage comes under the crop, USDA estimates production at 145 million tonnes, based on a yield of 3.58 MT per hectare.    This represents a six percent production increase compared to 137…

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China, Japan record uptick in milk production as Philippine’s appetite for imports rebounds

ASIA – Milk production in China and Japan is set to increase as more heifers enter production and productivity per cow improves, a new report by the Foreign Agricultural Service of the US Department of Agriculture (USDA) has revealed.  For China, raw milk production is forecast to reach 36.7 million metric tons (MMT), a 3 percent increase, as milk production per cow improves.  Other factors driving this uptick in dairy production, according to the USDA, include the addition of more dairy facilities and the expansion of the country’s dairy herd.  Whole milk…

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