Victory Farms Limited

Victory Farms and its innovative technologies bring together the best aquaculture practices from around the globe to tackle the challenges of; rapidly declining wild fish catch in Lake Victoria, rising populations and undernourishment. The company mission is to build commercial tilapia farms that can feed 2 billion Africans with affordable, accessible and healthy protein. The company aims to do so while also working toward operating the most sustainable fish farms on the planet.

Investment information

$4,000,000
Committed investment
Primary production with added-value activity
Primary value chain focus
Committed investment
Primary value chain focus

Expected impact

60%
Jobs created / maintained for women
797
Jobs created / maintained
$1,724
Total annual income for employees
Jobs created / maintained for women
Jobs created / maintained
Total annual income for employees

Our role

AgDevCo has provided a $4m mezzanine loan to Victory Farms, the fastest-growing fish farm in Sub-Saharan Africa. AgDevCo’s investment supports the company’s continued growth and impact, including the construction of a feed mill and expansion into Rwanda.

For decades the wild catch from Africa’s Great Lakes have been declining, with the result that the East African market now relies on imported frozen fish, often of low quality. Victory Farms saw an opportunity to supply affordable protein to consumers in a more sustainable way by growing tilapia, a fish native to northern Africa.

Victory Farms was founded in 2015. Today it operates as a vertically integrated business with a feed mill JV, its own hatcheries, deep water cages in Lake Victoria and Lake Kivu, processing plants and country-wide distribution networks in Kenya and Rwanda. Its main customers are several tens of thousands of market women who buy fish in small batches from a network of sales outlets, who then sell cooked fish in local food markets.

Our investments in Kenya

Investment Total invested Start date
Agris $7,000,0002024
East Africa Magical Farms $8,600,0002023
Evergreen Avocado Limited $8,000,0002023
Hatch Africa $6,500,0002024
Sagana Nuts $1,200,0002021
Victory Farms Limited $4,000,0002021