Rebecca Akrofie
The $18m loan to Terra and African Milling Company Congo was issued in the wake of a decision by the institution to double its commitment to Africa's agriculture sector.
The agri data and analytics company was sold by SFW Capital, a New York-based private equity firm; its third time to change hands in six years.
Accessing capital remains a challenge but a large deal for a local biotech firm last year points to the sector's potential, according to Israeli agtech incubator Trendlines.
Farmland Partners, a US-based REIT, listed on the New York Stock Exchange in April after raising $49.5m. Here, Luca Fabbri, chief financial officer, secretary and treasurer, tells Agri Investor about the journey.
The law firm conducted a survey of 80 professionals across the agribusiness, banking, consulting, commodity trading, food retail and not-for-profit sectors and noted the improving conditions for agri investment.
CoBank, a national cooperative bank, has anchored the public-private fund with a $10bn commitment to be used in loans. The fund hopes to attract additional private capital from institutional investors.
Ascent Africa has raised $50m towards the $70m target of its debut 'Rift Valley' fund, which will invest a large portion of its capital in agri-related processing companies.
A recent report has proposed the use of entrepreneurial skill on the continent, to realise Africa’s agribusiness potential.
Fifteen British agtech firms are to receive a share of an £18 million agtech investment fund, financed by the UK government and industry partners. But the sector needs more funding, according to industry insiders.
The creation of a Rs 100 crore ($16.6m; €12m) agtech investment fund does not go far enough to support the sector but alongside other agri initiatives is a step in the right direction, according to private equity professionals.