Kenya: Sahel Capital in aquaculture deal
Sahel Capital has closed a $1 million loan facility in Camino Ruiz.
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Sahel Capital, a food and agriculture-focused investment manager in sub-Saharan Africa, has closed a $1 million loan facility in Camino Ruiz, a Kenyan-based fish processing and distribution company. The facility comprises $800,000 for capital expenditure and $200,000 for working capital, and was provided through Sahel’s Social Enterprise Fund for Agriculture in Africa.
Camino Ruiz provides affordable, value-added fish products to the local retail market. Founded in 2008 by Joseph Mureithi, the company aims to meet the rising demand for high-quality, ready-to-eat tilapia fish products. Its core operations – filleting, freezing, and pre-cooking – are carried out at a processing facility in Nairobi. Camino sources tilapia from over 4,000 smallholder fish farmers along the shores of Lake Victoria, as well as from its affiliated company, Global Tilapia Husbandry.
“This investment marks SEFAA’s first foray into the aquaculture sector and represents a significant step into Africa’s growing aquaculture industry …With a robust distribution network that includes 180 supermarkets, 25 branded retail outlets, and an e-commerce platform, Camino Ruiz is positioning itself to become the leading consumer brand for fish products in Kenya,” said Zakayo Ngetich, vice president for East and Southern Africa at Sahel Capital.
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