(Agence Ecofin) – UK investment firm AgDevCo announces a commitment to Africado, a Tanzanian company founded in 2007 specializing in the cultivation and export of lawyers.
Without revealing the exact amount, the investor AgDevCo, which focuses its operations in the agri-food sector in sub-Saharan Africa, claims to have invested millions of euros within Africado. These resources will be used to increase the storage facilities of the Tanzanian firm and strengthen its production.
" We are pleased to support the further expansion of Africado. We believe this company will contribute to the development of the avocado industry in Tanzania while generating export earnings Said Sean Carey, Associate Director at AgDevCo.
Britain's AgDevCo's portfolio includes more than 40 investments in food production, processing and distribution companies in Africa. Tanzania remains the first country targeted by AgDevCo investments. At that date, the firm completed 10 operations for a total amount of $ 22.4 million.