agdevco | March 21, 2017

Jacoma Estates raises $11.5 million for macadamia farms in Malawi

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Jacoma Estates has raised $11.5 million for macadamia farms in Malawi.

The agri-processor will use the funds to expand its supplier network to almost 1,400 small macadamia farms, which otherwise lack access to export markets.

Jacoma Estates will also offer climate resilience assistance to the macadamia farmers through a grant from AgDevCo, backed by the MasterCard Foundation.

AgDevCo also re-upped an earlier $2 million loan with $3.5 million in debt and equity.

CDC, the U.K. development finance agency, made an $8 million equity investment.

The new funding follows an original $500,000 investment from the African Agricultural Capital Fund.

This post originally appeared in ImpactAlpha’s daily newsletter. Get The Brief.

Photo credit: Neno Macadamia Trust