The agri-processor Jacoma Estates has raised $11.5 million to expand its supplier network to almost 1,400 small macadamia farms in Malawi. Without the help, macadamia farms do not have access to export markets.
Through a grant from AgDevCo backed by the MasterCard Foundation, Jacoma Estates will also offer climate resilience assistance to macadamia farmers. AgDevCo re-upped a previous $2 million loan with $3.5 million in debt and equity and CDC, the UK development finance agency, invested $8 million in equity.
The African Agricultural Capital Fund previously invested $500,000 in the project.
