Agventure invests in AgDevCo to expand business in Kenya

Specialist agricultural investor AgDevCo has announced its latest invstment into the farmer-owned business Agventure to help the latter expand its canola oil and seed processing business in Kenya

Comprising a collective of farmers, researchers, educators, and entrepreneurs working to model, promote, and share regenerative production methods throughout the food system, Agventure's objective is to enable Kenyan farmers to develop more sustainable farming practices.

AgDevCo’s mezzanine loan of US$9.5mn will enable Agventure to continue to develop its canola oil production capabilities, which sells oil under the Pure Mountain brand in Kenya, allowing the company to increase its volumes purchased from outgrower farmers. It will also help to build Agventure Seed’s platform to supply high quality certified seed to farmers.

“We are excited to be supporting Agventure in its journey to add more value commodity crops, which increases the availability of high quality, locally produced food for the domestic market and reduces reliance on imports,” said AgDevCo’s managing director for East Africa, Rebecca Sankar. The company's vision is a thriving commercial agriculture sector, which benefits both people and planet by investing in and supporting agribusinesses to grow.