Rwanda’s Kigali Farms has secured a loan from AgDevCo to support mushroom farmers. The agribusiness sells mushroom growing kits to more than 1,700 smallholder farmers and buys back some of the harvest at a guaranteed price.
The $450,000 loan from the UK-government-backed AgDevCo will help the company meet strong mushroom demand from retailers, hotels and conference centers.
Kigali Farms will use the cash to complete a new production facility in northern Rwanda.
AgDevCo has invested over $90 million in 59 sub-Saharan African agribusinesses (see “Lowered Risks Means Higher Returns for Agriculture Investors in Frontier Markets”).