AgDevCo, a specialist investor in early-stage African agribusinesses, has secured a USD90 million package of new funding from the CDC Group, Norfund and DFC which will allow AgDevCo to continue to grow its investment activities in agriculture across Sub-Saharan Africa.
This is in addition to the announcement of supplementary funding of up to USD5.4 million from CDC, Norfund and the UK’s Foreign, Commonwealth and Development Office (FCDO) for AgDevCo’s integrated technical assistance facility.
This new funding builds on the original endowment funding provided by the UK government which helped establish AgDevCo over the past decade. This endowment has provided capital to agribusinesses that have directly created or sustained more than 15,000 jobs and to work with 750,000 smallholder farmers to help increase their income and improve their resilience to climate change.
