Kenyan tea agency secures US$10m credit facility to improve trading operations

KENYA – The Kenya Tea Development Agency Holdings (KTDA) has secured a US$10 million (Sh1 billion) credit facility from the International Finance Corporation (IFC) to help the agricultural firm improve its tea trading operations. The funds will form part of KTDA’s planned total investment of US$17.7 million (Sh1.7 billion) aimed at upgrading its warehouses and…

IFC invests US$3m in agri-logistics group to expand services in Myanmar

ASIA – The International Finance Corporation, IFC has provided US$3 million loan facility to SLCM Limited, a Delhi-based agri­ logistics group to expand its warehousing services in Myanmar. According to IFC, the credit facility will help the company expand its warehousing services and allied services in the Southeast Asian nation while improving farmers’ livelihoods by…

Twiga Foods raises US$10.3m financing from IFC and TLcom for expansion

KENYA – Twiga Foods, a Kenyan based online food-market platform has raised US$10.3 million financing co-led by World Bank’s private investment arm International Finance Corporation (IFC) and Pan-African venture capital firm, TLcom Capital. The capital is meant to help the company expand operations and offer new services to small holder farmers. Others that participated in…

Africa Improved Foods receives the first SDG Award for sustainable consumption

RWANDA- Africa Improved Foods (AIF), a joint venture between the government of Rwanda and a consortium of Royal DSM and investment firms has received the first SDG Award for sustainable consumption from the Swiss Green Economy Symposium (SGES). The event held 4 September in Zurich, Switzerland features companies committed to sustainability, with project distinctions focused…

Indian poultry firm Srinivasa Farms set for US$23 million IFC funding

INDIA – International Finance Corporation (IFC) plans to make an equity investment of US$23 million (Rs 158 crore) in Srinivasa Farms Pvt. Ltd to help the Hyderabad-based poultry company expand its operations. According to VCircle, the funding from IFC will help the company to expand its layer, broiler and breeding operations by setting up additional…

Kenya’s premium tea brand Kericho Gold secures US$4m IFC financing

KENYA - Kericho Gold, a premium tea brand owned by Gold Crown Beverages, a subsidiary of Global Tea & Commodities Ltd has received US$4 million funding in loan from IFC meant to fund its expansion strategy in Kenya and Malawi, reported the Exchange. A statement from IFC said that Global Tea & Commodities Ltd, a…

Kenyan grocery retailer Twiga Foods secures US$3m IFC funding

KENYA - Twiga Foods Ltd, one of Africa’s largest grocers to watch is set to receive US$3 million from the International Finance Corporation (IFC) in a series of funding aimed at raising about US$7 million from investors, reported Business Daily. Twiga Foods is a mobile-based supply platform for Africa's retail outlets, kiosks, and market stalls,…

IFC invests US$25m in KazFoodProducts food processing group

ASIA - The International Finance Corporation (IFC), a member of the World Bank Group is investing US$25 million in KazFoodProducts LLP food processing group of companies operating in grain milling and confectionary sectors. The investment aims at supporting the company’s expansion plans, boost Kazakhstan agricultural sector through diversification strategies as well as enhancing global food…

IFC launches food safety training to boost standards in Ethiopia

ETHIOPIA - The International Finance Corporation (IFC) has unveiled a new training programme on food safety management practices aimed at boosting standards at both local and international markets. The training which involves food producers, retailers, industry experts and policy makers also has a sole purpose of developing the country’s food processing industry and putting Ethiopian…

IFC invests US$10m in Rwanda to support small business growth

RWANDA - The International Finance Corporation (IFC) has announced a US$10 million loan investment in I&M Bank Rwanda to increase the bank’s capital base, increase lending to small and medium enterprises in addition to creating jobs in various sectors. The investment aims to provide financial incentives to smaller business in the agricultural, tourism, trade and…