Citrum

Our social impact
livelihood
IMPROVED LIVELIHOODS

In 2017 Citrum sustained 304 FTE employees and 175 small traders/street sellers of bananas and citrus could buy products from Citrum to sell in the local market.
Lift in income
UPLIFT IN INCOME
Employees had an income uplift of $850 per head in 2017.
Food security
FOOD SECURITY
Citrum is leading biosecurity efforts which should boost the overall sector production and is the only commercial producer of citrus. Moreover, Southern Maputo has experienced a water shortage and Citrum started trials on drip irrigations to allow for substantial water savings and high yields.
Community
IMPROVED COMMUNITIES
Our investment is supporting a Mozambican-owned business run by a largely female management team on the ground. Citrum has been active to organise banana growers in the South of Mozambique and is heading the creation of the Banana Growers Association. Employees are motivated again by the prospect of stable jobs, good operational organisation and targeted training.
Overview
The Challenges

Citrum took over two neglected farms in Southern Mozambique which were experiencing chronic losses, employee discontent and poor infrastructure. The new owners are looking to replace the existing citrus crops with banana trees over 150ha on one farm and to develop a sophisticated operation capable of exporting to South Africa. Intensive rehabilitation and planting, as well as equipment purchase, are required to do so and the Mozambican financial sector is reluctant to finance a semi-greenfield agribusiness operation.

Our Approach

AgDevCo invested $1.5m in equity alongside the new owners who injected $1.85m. Both parties share a common vision of promoting a Mozambican-owned agribusiness. The funding is allocated to capital expenditures including a pack-house, farm equipment and irrigation infrastructure. This investment is intended as the first phase of a larger business plan which will see the development of the second farm. If Citrum is successful, AgDevCo is considering supporting the sponsors in other ventures and serve as a best-in-class example of local investment being catalysed into agriculture in Mozambique.

Our Impact

· 26% female employees, including several managers and the general manager.

· Re-organisation of workforce leading to large productivity gains. 

Small Traders/street sellers able to get local products at lower prices.

· Agronomic advice and trials for mitigating health and water issues.

investment
$1,500,000
Committed Investment
We believe we can deliver more impact by making investments that help responsible agribusinesses grow.
If you believe your business meets our investment criteria, we want to hear from you.
Contact us