AgDevCo has raised USD 90 million from the UK Development Finance Institution (CDC), Norwegian fund Nordfund and the International Development Finance Corporation (DFC). The investment should enable AgDevCo, which specializes in investing in African agricultural start-ups, to consolidate investments in agribusiness.
The fund is made up of a contribution of $50 million from CDC Group, $20 million from the Norwegian investment fund Nordfund and $20 million from the DFC. “We are delighted that our vision is shared by our new funders, who recognize the important contribution that AgDevCo’s investments can make to productivity, sustainability and inclusiveness in Africa,” said Keith Palmer ( photo), founder and president of AgDevCo.
Since its creation in 2010, AgDevCo announces that it has invested in 80 agricultural companies. It currently claims a portfolio of $150 million split between Ghana, Ivory Coast, Kenya, Tanzania, Uganda, Rwanda, Zambia, Mozambique and Malawi.
According to the head of medium / large funds at the CDC, John Owers, the funding from the American institution will allow AgDevCo to intensify its activities, in particular by helping farmers to reduce carbon emissions and waste which are very high on the world. continent.
