BFA Asset Management in Angola food deal
BFA Asset Management’s private credit vehicle – Kimbo Fund – has made an investment in FoodCare, an Angolan agri-food processor.
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BFA Asset Management’s private credit vehicle – Kimbo Fund – has made an investment in FoodCare, an Angolan agri-food processor.
FoodCare, which processes 25 traditional foods from cassava to mufu and mopane worms, currently operates at a capacity of 84 tonnes per month. Some 95% of its products are exported to Europe, North America, and South Africa.
“This isn’t just an investment; it’s a correction of a market oversight,” said Rui Oliveira, CEO of BFA Asset Management. “We see a business with immense intrinsic value, trapped between its proven capabilities and its untapped potential. The data is clear: the demand is real, the unit economics are sound, and the growth trajectory is undeniable.”
“For years, we’ve had to say ‘no’ to orders we knew we could fulfill,” shared Marlene José, founder and CEO of FoodCare. “Seeing our products on global shelves was a dream realised, but being unable to meet the demand was our heartbreak. Kimbo didn’t just see a balance sheet; they saw our struggle and our ambition in those numbers. This partnership means we can finally say ‘yes’ to the world. It means the taste of Angola will reach more homes, and the communities we source from will thrive. This is the moment we’ve been working towards.”
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