In order to finance food and agribusiness companies in Sub-Saharan Africa, IFC, a member of the World Bank Group, made a $7m equity investment in Agri-Vie Agribusiness Private Equity Fund.
Agri-Vie focus on making investments in commercially attractive food and agribusiness companies with strong management that need equity financing to pursue their growth business plans and go to the next level of performance through corporate governance and financial structure improvement.
By supporting the growth of commercial agribusiness enterprises, the fund aims to promote local entrepreneurship, local economic empowerment, agribusiness development, and job creation.
The fund has already made five investments since its inception. The investment team include Herman Marais, Izak Strauss, Mohammad Karaan, David Douglas, Godfrey Rathogwa, Godfrey Rathogwa and Lynette Thomas.