Pearl Capital Partners in Ugandan agribusiness deal
The Yield Uganda Investment Fund, managed by Pearl Capital Partners, announced an investment of $515,000 in Enimiro in a blend of equity and cumulative redeemable preference shares.
Enimiro is a Jinja-based company first incorporated in 2019, and has since achieved rapid traction in the vanilla marketplace. The company is a vertical supply chain management business connecting the smallholder farmers to the international buying community for three organic products; vanilla, arabica coffee and dried pineapple, with vanilla as the anchor product. The business uses the latest product traceability systems to ensure constant support to its wide outgrower network of farmers while also providing an effective supply chain to the international customer base.
Yield Fund’s investment in Enimiro will help the company meet the demands of its existing and prospective customers by improving efficiencies, processing more volume, and improving product quality for both vanilla and arabica coffee. These will be achieved through the development of the company’s newly acquired coffee processing site and aid in the procurement and installation of processing and drying equipment for the arabica coffee as well as the construction of a new vanilla processing facility warehouse, procurement, and installation of a new vanilla quick curing equipment. The vanilla processing facility will be designed to international food processing standards and have a quality testing laboratory and extensive security provisions. These interventions will significantly increase processing capacity, which will be able to meet the new customer interest and increased demand.
David Wright, the CEO of Enimiro said, “Yield Fund and Pearl Capital Partners are the right partners for Enimiro based on their local knowledge and support structures. With the support from IFAD and the European Union, it is allowing Enimiro access to a vast resource of knowledge and expertise to ensure we can meet best practices in smallholder farmer engagement. We are very excited about the partnership to continue our objective of developing farmer-to-consumer supply chains with leading technology and value addition infrastructure.”
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