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.
| Investment | Total invested | Investment type | Start date |
|---|---|---|---|
| Agris | $7,000,000 | Debt / Equity | 2024 |
| East Africa Magical Farms | $8,600,000 | Debt / Equity | 2023 |
| Evergreen Avocado Limited | $8,000,000 | Debt / Equity & Technical assistance | 2023 |
| Hatch Africa | $6,500,000 | Debt / Equity | 2024 |
| Sagana Nuts | $1,200,000 | Debt / Equity | 2021 |
| Victory Farms Limited | $4,000,000 | Debt / Equity | 2021 |