twitter RSS Feed linkedin acp contact

AgDevCo invests in Mozambique's agribusiness sector

AgDevCo has announced a debt investment of US$3mn in Quinta da Bela Vista Limitada (QBV), an irrigated banana estate located in the Boane area, Mozambique

AdobeStock 135433448Quinta da Bela Vista Limitada wishes to expand its banana estate to 260ha over the next two years. (Image source: Adobe Stock)

QBV was established in 2016, as a joint venture between SilverStreet Capital’s Silverlands Fund, and Crookes Brothers Limited, and currently comprises 128ha of irrigated banana plantations.

QBV’s wishes to expand the operation to 260ha over the next two years, with the assistance of Crookes Brothers, which has a proven track record in the banana sector of South Africa.

Crookes Brothers will be providing QBV with expertise, and a marketing channel into South Africa. SilverStreet is a dedicated investor in the agricultural sector, with investments in eight countries on the continent.

AgDevCo’s investment will further support QBV’s expansion, by providing long term capital. QBV currently employs over 240 people, and intends to further expand further, creating more jobs for the locals. The banana industry is a major source of employment, and the export of bananas offers Mozambique the opportunity to increase foreign exchange revenue.

AgDevCo’s funding of QBV will enable the company to expand and create employment opportunities in an optimal banana growing area in southern Mozambique. They have been an ideal funding partner for QBV, structuring the loan to suit the needs of the company,” said Simon Morgan, director of QBV.

“We are delighted to back QBV and partner with Crookes and SilverStreet in developing the banana industry in the Boane area, helping to build sustainable impact and bring in export revenue,” said Charlotte Dubois, investment director at AgDevCo.


LATEST NEWS IN Agriculture

Advanced drying techniques to enhance quality of South African raisins

Advanced drying techniques to enhance qu…

Innovative drying techniques are among the several new initiatives helping to boost the quality and sustainability of South African raisins

African food imports bill predicted to double by 2030

African food imports bill predicted to d…

Experts have warned that the cost of Africa’s yearly food imports could increase from US$50bn to US$110bn by 2030 if immediate measures aren’t taken to increase food production

Wildlife and forestry sector in the spotlight

Wildlife and forestry sector in the spot…

On August 22, the 23rd session of the African Forestry and Wildlife Commission, hosted by the Government of the Democratic Republic of the Congo opened in Kinshasa, putting the future...

Boosting investment for Africa-made cotton

Boosting investment for Africa-made cott…

At a partner’s conference on cotton, jointly organised with the World Trade Organization (WTO) and the UN Conference on Trade and Development (UNCTAD), donors were urged to mobilise resources for new partnerships.   

Nature-based solutions help farmers in Ghana

Nature-based solutions help farmers in G…

Organic pesticides, waste-based fertilisers and forest regeneration are just a few of the green initiatives being employed in Ghana to boost farming communities’ resilience to the impacts of climate...

Boosting soil nutrient mapping in sub-Saharan Africa

Boosting soil nutrient mapping in sub-Sa…

The Food and Agriculture Organization of the United Nations (FAO) is set to fast track an impact-oriented project in sub-Saharan Africa and Central America for digital soil nutrient mapping, after...

Prev Next

OTHER RELATED ARTICLES - Agriculture

Africa’s agribusiness sector to reach US$1 trillion by 2030

Africa’s agribusiness sector to reach US…

As project sponsors, borrowers, lenders and investors gathered at the Africa Investment Forum to make deals on investment opportunities, leaders of the continent’s top agribusiness companies shared their thoughts on...

New app to help Kenyan farmers with climate-smart seeds

New app to help Kenyan farmers with clim…

A new mobile phone app in Kenya could help farmers by providing information on seeds best suited to the changing climate and growing conditions

Zambia’s challenges

Zambia’s challenges

ZAMBIA HAS STARTED developing farm blocks in order to diversify the economy away from mining. The now subsiding global economic crisis has exposed Zambia’s overdependence on mining sector which suffers...

New Holland's distributor in Zambia named ‘Best Agriculture Exhibit’

New Holland's distributor in Zambia name…

Dana Holdings has received the prize for ‘Best Agriculture Exhibit’ at the 2014 Agricultural and Commercial Show which was held in Lusaka, Zambia from 30 July to 4 August

AGCO and BMZ support farm mechanisation in Sub-Saharan Africa

AGCO and BMZ support farm mechanisation …

AGCO, Your Agriculture Company, a global manufacturer and distributor of agricultural equipment and solutions, has signed a letter of intent (LOI) with the German Federal Ministry of Economic Cooperation and...

Agritask and Hollard Mozambique to expand agri insurance platform in southern Africa

Agritask and Hollard Mozambique to expan…

Agritask, one of the leading global developers of a holistic agronomic operations platform, and Hollard Mozambique, a premier insurance group in Mozambique, have partnered to provide digital solutions to local...

Uganda to get agriculture assistance from FAO and China

Uganda to get agriculture assistance fro…

FAO, China and Uganda have signed a two year agreement worth almost US$2.5mn to support small-scale farmers in Uganda

FAO organises training workshop for the Libyan Ministry of Agriculture

FAO organises training workshop for the …

As part of the capacity building agreement between the Food and Agriculture Organisation of the United Nations (FAO) and the Government of Libya, FAO representation to Libya is delivering a...

Nutmeg nutrition and disease deterrence

Nutmeg nutrition and disease deterrence

Dr Terry Mabbett has highlighted Nutmeg nutrition facts and disease management strategies

Global cocoa shortage by 2020 fuels concern

Global cocoa shortage by 2020 fuels conc…

The world is running out of chocolate and plantations in West Africa cannot keep up with soaring demand from Asia, biggest international confectionery manufacturers have warned

Severe hunger due to drought in south-western Angola

Severe hunger due to drought in south-we…

An Integrated Phase Classification (IPC) analysis that categorises food insecurity, has revealed that more than 1.3 million people in three provinces of Angola are facing severe hunger due to drought

Increased investment in Kenya's coconut industry

Increased investment in Kenya's coconut …

Increased investment, value addition and the opening up of export markets has boosted coconut farming along Kenya’s coastal region with huge returns for local farmers, writes Mwangi Mumero

Prev Next