Annual Report
Annual Report & Financial
Statements for Year Ended
30th June 2009.
Find the full report here
AAC's Vision
To improve the livelihoods of small-holder farmers in East Africa
AAC's Mission
To be a leading agribusiness-focused investment fund in Africa that delivers positive financial returns to its investors, supports its investees through the provision of affordable and flexible capital, and has a high social and development impact on smallholder farmers and rural economies, thereby encouraging greater investment in the agriculture sector.
| African Agricultural Capital completes exit of Amaranth International Ltd (AIL) Kenya |
| Tuesday, 20 April 2010 13:20 |
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African Agricultural Capital (AAC), the first agribusiness investment fund dedicated to providing affordable and flexible capital to agriculture-related Small and Medium-sized Enterprises in East Africa, announces the exit of its portfolio company Amaranth International Ltd (AIL) through a buyout of equity stake by the existing shareholders. Our investment assisted AIL develop capacity to process grain amaranth (Terere) into flour and breakfast cereal. Amaranth seeds are high in protein with a content of 14% to 16%. The nutritional profile is well balanced in amino acids and is high in lysine. Grain amaranth requires 60-75 days from planting to harvest, making it an ideal cash crop for small holders. The crop has a lower nitrogen demand than maize and has similar plant nutrition requirements as sorghum. AIL contracts small holder farmers in Kenya and Uganda to grow grain amaranth on its behalf. Currently AIL has contracted about 1,000 farmers and six agricultural societies and co-operatives and expects to expand this number in the future. Our early stage investment in the company in the form of both equity and debt provided the company with much needed expansion capital to finance the acquisition of amaranth processing equipment and working capital. The company has developed the “Ama” brand of pure flour, fermented flour and popped cereal amaranth grain. The high quality and richly nutritious “Ama” brand has been widely accepted in Kenya and continues to gaining consumer preference and prominence in major retail outlets throughout Kenya. The factory and warehouses are located in Ongata Rongai in Nairobi. We wish the business well as it forges its growth path into a household brand in the region. |