ABC Fund supports three agribusiness ventures in West Africa with working capital

WEST AFRICA – The Agri-Business Capital Fund (ABC Fund), managed by Bamboo Capital Partners, Injaro and Agriterra, has provided loans to three agri-businesses in West Africa, to support their working capital needs and expansion strategies. The backing from the blended-finance impact fund, will also enable the farmers to secure market access in their respective sectors and foster higher rural employment opportunities. The ABC Fund has provided a loan of EUR450,000 (US$546,421) to Kaworo based in Burkina Faso, a producer of grains (mainly maize, millet, sesame, cowpeas and sorghum) and seeds,…

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Insurtech start-up OKO raises US$1.2m to bring innovative products to smallholder farmers in Africa

MALI – Insurtech start-up OKO, a provider of inclusive agricultural insurance to secure farmers’ income across Africa, has closed a seed investment of US$1.2 million led by Newfund and ResiliAnce. Mercy Corps Venture, Techstars, ImpactAssets and RaSa also participated in the round. The start-up headquartered in Mali and operates in Uganda, uses satellite data and mobile payments to create automated insurance products for farmers whose fields are affected adversely by weather occurrences primarily droughts and floods. With the new funding, OKO aims to strengthen its presence in Mali and Uganda…

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IFC issues US$2.4m loan financing to Mali’s leading mango processor to expand export market

MALI – Mali’s leading mango processing company CEDIAM (Centre d’Étude et de Développement Industriel et Agricole du Mali), has received a €2 million (US$2.4m) financing from IFC to bolster its operations. According to IFC, the loan consists of a senior A loan of up to €1 million (US$1.2m) from its own account and a concessional loan of up to €1 million (US$1.2m) in its capacity as implementing entity for the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP). CEDIAM will use the financing to upgrade its…

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IFAD, RBAs, FAO, WFP join forces to revitalize economic activities in the SAHEL region

SAHEL – The International Fund for Agricultural Development (IFAD) is joining with the other Rome-based UN agencies (RBAs), the Food and Agriculture Organization of the United Nations (FAO) and the World Food Programme (WFP), as well as the G5 Sahel and the Green Climate Fund to revitalize economic activities and food systems in the group of Five Sahel countries (Burkina Faso, Chad, Mali, Mauritania and Niger) and in the Republic of Senegal. These efforts will strengthen the resilience of rural communities impacted by conflict, climate change and the current Covid-19…

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Africa Capitalworks invests in West African beverages company, Gaselia Industries Group

WEST AFRICA – Africa Capitalworks Management, a Sub-Saharan Africa-focused private equity investment company, has announced the acquisition of a significant minority equity shareholding in Gaselia Industries Group, one of the largest homegrown beverages groups in West Africa. Founded in 2002 by local entrepreneurs and headquartered in Bamako, Mali, Gaselia has three bottling production and distribution operations, located in Mali, Ivory Coast and Guinea-Conakry. It is one of the leading producers in each of its markets and categories and has an ambitious growth plan. Gaselia is the exclusive partner of Monarch…

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Moringa Fund acquires stake in Malian diversified beverage firm SOBEMA

MALI – Moringa SCA SICAR, an impact investment fund dedicated to agroforestry projects in sub-Saharan Africa and Latin America, has taken a 46% stake in SOBEMA (Société des Boissons and Mineral Waters of Mali) a beverage processing company based in Mali. The investment will enable SOBEMA launch production of a wide range of beverages, from mineral water, flavoured drinks, fruit and vegetables juices (guava, oranges, cashew apples, tomatoes, pineapples, pomegranate, ginger, etc.). This come after Moringa took a 40.3% stake in ComaFruits (Compagnie Malienne de Fruits), SOBEMA sister company producing…

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