The Agri-Business Capital Fund's recent investments in Benin, Mali, Uganda and Nigeria
The Agri-Business Capital Fund (ABC Fund), managed by Bamboo Capital Partners in partnership with Injaro as investment advisors, announced the completion of its latest investments totalling €4.21 million in food production businesses in Benin, Mali and Uganda as well as a microfinance institution based in Nigeria.
Africa Négoce Industries (ANI), a raw cashew nut processor in Benin, has received a loan of €800,000 to expand its operations. Promo Fruits, a pineapple juice processor in Benin, has been loaned €800,000 to cover working capital needs and improve smallholder farmers’ fruit production capacity.
Groupe Diakhate, a poultry feed manufacturer in Mali, has been granted a €450,000 loan to acquire raw materials and modern equipment. This will enable the company to strengthen relationships with farmer cooperatives and increase its workforce.
In Uganda, Matale Hill Brothers Ltd, a coffee processor, has received a €254,000 credit facility for working capital needs. This funding will enable the company to increase the number of farmers it works with and provide them with a stable market.
Grace and Mercy, a non-bank microfinance institution in Nigeria, has been granted a €1,910,000 credit facility to develop a formal agricultural financial product. The ABC Fund loan is expected to enable the company to provide over 4,000 agricultural loans per funding cycle.