ZAMBIA – Seba Foods Zambia Limited, subsidiary of Zambia-based Two Six Zero Brands Africa has received a US$4m senior loan facility from AATIF to enable it maximize output from its recently installed processing plant.
Seba Foods which undertakes processing and distribution of a wide range of products made from maize and soybeans, will utilize the finance to purchase raw materials from local smallholder farmers in the country.
The company’s product range include textured soy as a meat alternative, powdered/instant drinks, corn soya blend (porridge), as well as snacks – a segment the company has managed to be a top market leader in the country.
According to AATIF, the debt is structured as a 12-month CMA facility aimed to enables the company to purchase the raw materials in the local market during the most optimal time from the thousands of farmers the company engages with.
“The investment in 260 Brands represents AATIF’s continued commitment towards establishing local value chains. The company’s dedication to sourcing produce from local farmers is truly commendable.
“By ensuring the final product is also accessible to these very farmers, 260 Brands plays its part in promoting local food security, further aligning with AATIF’s overall goal,” said Jyrki Koskelo – Member of the Management Board of the Africa Agriculture and Trade Investment Fund.
The company’s impact lies in their ability to be integrated from farm to fork – working with farmers at the start of the value chain and then further processing, packaging and marketing the final produce themselves.
“We are pleased and humbled with AATIF’s support and investment, which believes in our vision that allows us to offer reasonably priced and nutritious consumer products to Africa’s people, and at the same time, create a socially conscious business that would contribute to ending all forms of malnutrition and support sustainable agriculture.”
Gaurav Vijayvargiya – Chief Executive Officer, Seba Foods Zambia
Through this unique position the company is able to positively impact various parts of the value chain.
In partnership with local NGOs, 260 Brands has been able to engage with a group of 1,008 farmers, supporting them with agricultural training, access to inputs, transport and most importantly a stable off-take market.
Further the final products of the company include affordable and nutritious snacks and drinks which are accessible by the same smallholder farmers.
Many products are fortified, and others provide soy as a high protein alternative to meat which is often expensive.
“We are pleased and humbled with AATIF’s support and investment, which believes in our vision that allows us to offer reasonably priced and nutritious consumer products to Africa’s people, and at the same time, create a socially conscious business that would contribute to ending all forms of malnutrition and support sustainable agriculture,” said Gaurav Vijayvargiya – Chief Executive Officer, Seba Foods Zambia.
Founded in 1997, Two Six Zero Brands has expanded its product range to include north of 75 SKUs products.
The company is currently looking into venturing in the plant-based protein market by availing both food and beverage products as the segment is gaining momentum in the region.
During a recent interview with Food Business Africa team, the team revealed that it is planning to make investment in line with this plan, which would increase its processing capacity from the current 25,000 metric tonnes to 35,000 metric tonnes in the next 24-36 months. To read the full story Click Here.
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