ImpactAlpha, April 8 – U.K. agribusiness impact investor AgDevCo extended a $3 million mezzanine loan to Minimex Limited, a maize milling firm in Rwanda.
Minimex churns out 40,000 tonnes (about 44,000 tons) of high-quality maize flour, grits and bran per year, making it one of the largest mills in the country. The product is sold throughout East Africa. With the investment, Minimex will boost its milling capacity and purchases from tens of thousands of Rwandan small farmers.
“Minimex drives impact at both ends of the supply chain, buying maize from smallholder farmers and selling fortified flour to its customers,” AgDevCo’s Chris Isaac said in a statement.
Other Rwanda-based AgDevCo investments include Kigali Farms, a mushroom grower; and Uzima, a day-old chick producer. The UK Aid-backed agribusiness investor has invested more than $150 million in 50 production, processing and distribution companies in sub-Saharan Africa.
