A new Kenyan avocado producer and exporter backed by Agris and Granot.
AgDevCo’s $8.0m mezzanine loan will support the development of a 390 hectare avocado research and production hub in Naivasha. As part of the project the company will invest in a 3 Ha R&D plot for irrigation, varieties, genetics and crop protection/IPM trials, and aims to share learnings from these trials with other avocado farmers in order to further develop the sector in Kenya. At its peak, the project will create employment for about 190 people on the farm.
AgDevCo has supported Evergreen with TA for capacity building and the development and implementation of a good practice aligned Environmental and Social Management System (ESMS) in line with AgDevCo’s Responsible Business Principles (RBPs) to work towards alignment with the IFC Performance Standards.
Investment | Total invested | Start date |
---|---|---|
Agris | $7,000,000 | 2024 |
Evergreen Avocado Limited | $8,000,000 | 2023 |
Sagana Nuts | $1,200,000 | 2021 |
Victory Farms Limited | $4,000,000 | 2021 |