AgDevCo exits Zambian agribusiness company
AgDevCo has announced its exit from Saise Farming Enterprises.
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AgDevCo has announced its exit from Saise Farming Enterprises, through an equity sale to Buya Bamba, a Zambian potato company.
Saise was established in 2016 as a specialised potato seed farm between AgDevCo, Buya Bamba and its managing partners. Saise has played a crucial role in developing Zambia’s potato sector by producing high-quality, early-generation seed potatoes which are carefully chosen for Zambia’s climate and grown under licence from Buya Bamba.
With 285 hectares under irrigation in Mbala, Northern Zambia, Saise's seed potatoes are multiplied by a network of growers, reaching a large portion of the country’s potato farmers. The farm has been instrumental in improving seed availability, enhancing yields, and enabling a reliable local source of potato seed for Zambia. Additionally, Saise has created much-needed formal employment in Northern Zambia.
“Saise is in excellent hands with Buya Bamba, our partner in the venture from the start and are grateful for the commitment from our managing partners to build Saise into what it is today. As a proudly Zambian company, Buya Bamba is well-positioned to continue growing Zambia’s potato industry,” said Sean Carey, South Region managing director at AgDevCo.
Anthony Barker, managing director of Buya Bamba, added, “The future of Zambia’s potato industry is bright and this acquisition further strengthens the Zambian potato value chain. Buya Bamba appreciates the effort from AgDevCo to jointly lead the development of Saise, and take the early stage investment risk of this successful greenfield project.”
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