Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

AgDevCo invests $6.5 million in farming ventures in Zambia and Mozambique



Farmer Finance

The farm is expected to to create over 170 new local jobs

PC: AgDevCo

The non-profit agribusiness investor, which is backed by the U.K. development agency DFID, invested $5 million in Katito Farming Enterprises, a new commercial farming operation in the Mbala region of Northern Zambia. AgDevCo’s investment in Katito is its second in Zambia.

The farm is part of an effort to give local smallholder farmers access to regional export markets, and to create over 170 new local jobs. The farm fits with efforts from the Zambian government to “shift the mainstay of the economy from mining to agriculture,” Zambia’s Daily Mail reports.

AgDevCo’s investment calls for improved security of land tenure for communities around the farm. Katito has also secured $7 million from a local investor.

In Mozambique, AgDevCo is backing banana exporter Citrum SA with $1.5 million to rehabilitate a banana plantation. AgDevCo is working with Nika, a group of Mozambican investors, to support Citrum in increasing the banana plantation’s yields and sales. The plantation will employ 140 people locally and is focused on hiring and promoting women.

You might also like...