Zambian consumer goods manufacturer secures loan from AATIF
On 21 May 2021, Seba Foods Zambia Limited (260 Brands) made the first withdrawal of a $4 million senior secured CMA facility from the Africa Agriculture and Trade Investment Fund (AATIF) to facilitate the purchase of maize and soybeans from local smallholder farmers in Zambia.
Seba Foods is a family-run business founded in 1997 as a subsidiary of Two Six Zero Brands Africa. The company’s activities to date include purchasing, processing, packaging and shipping of maize and soya products. Its key products include textured soy as a meat alternative, powdered/instant drinks, corn soya blend (porridge), as well as snacks, where the company is among the market leaders in Zambia.
The facility provided by AATIF will allow 260 Brands to now maximise the output of a recently installed plant. Structured as a 12-month CMA facility it enables the company to purchase maize and soybeans in the local market during the most optimal time for further processing at its own facilities.
“The investment in 260 Brands represents AATIF’s continued commitment towards establishing local value chains. The company’s dedication to sourcing produce from local farmers is truly commendable. By ensuring the final product is also accessible to these very farmers, 260 Brands plays its part in promoting local food security, further aligning with AATIF’s overall goal,” says Jyrki Koskelo, member of the management board of AATIF.
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