Sahel rakes in almost $66mln for FAFIN’s final close

Sahel Capital announced the final close for its debut fund, the Fund for Agricultural Finance or FAFIN, last week, landing a total of $65.9 million from several development finance institutions. Total commitments to the fund could rise by another $10 million should an an offer by KfW Development Bank to increase its level of commitment to the fund be approved by its board.

KfW was one of FAFIN’s original sponsors when it launched in 2014 with $32.8 million in commitments. Other sponsors included Nigeria’s Federal Government and the Nigerian Sovereign Investment Authority. The fund’s strategy is to back sustainable agribusinesses in the West African country and it has already invested in 4 companies-L&Z Integrated Farms, an integrated dairy, Diamond Pearls Agro Allied, a producer of edible oils, Dayntee Farms, a commercial poultry farm and most recently, Crest Agro Products, an integrated cassava processor.

To read this article, you must be a paid subscription member. (Current members login here)

\"\"

Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.