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Investment Portfolio - Tanzania
Africado

Africado (TZ) Ltd is a new company that has been set up to grow Haas avocados in West Kilimanjaro in Northern Tanzania for export to the EU. The promoters of the project are developing a 115 hectare nucleus orchard and setting up an out grower scheme to benefit about 750 small scale farmers covering a total of at least 100 hectares.

Our investment is financing the first two years of operations. The investment has enable the business to develop a 63 hectare nucleus plantation and is preparing an additional 50 hectares for planting in early 2009.


East Africa Food Network

East Africa Food Network (EAFN) was set up in Tanzania in 2007 to dehydrate and export vegetables from the East Africa region to international export markets, particularly the EU, but with a view to developing longer term markets in the rapidly developing Asian economies.

Our investment has enabled the company to acquire machinery in both Kenya and Tanzania, and to provide it with adequate working capital which has enabled the business to penetrate and sell fresh vegetables in major super market outlets in Kenya.


FICA SEEDS (2002)

FICA SEEDS (2002) Ltd is a Tanzanian seed company established in 2002 and located in Arusha. It initially started as a distributor of FICA SEEDS Uganda until recently when it started producing and processing seeds in Tanzania. The core business of the company is open pollinated maize seed varieties (80%) and hybrids maize (20%).

Our investment is enabling the business to embark on a major capital expansion programme with a view to establishing a plant for processing its own seeds, purchasing seeds from its out growers and expanding its out grower scheme.


Agrica

Agrica Ltd was established in Tanzania in September 2005 to exploit the opportunity to create biodiesel businesses in developing markets. Given the current global debate about food security, food versus fuel, the company is committed to growing only food crops (including vegetable oils) in the short term and will review the potential production of biofuels periodically.

The business intends to grow 7.500 hectares of oil palm (net of infrastructure) over five years on an estate in a sustainable location, the Mngeta Farm in the Kilombero Valley. The promoters intend to establish a substantial out grower scheme to supplement estate production.

Our investment, in conjunction with other investors, has assisted in the business's initial development phase to acquire the Mngeta farm and commence commercial operations, including rice cultivation and the establishment of the oil refinery.