Fanisi Venture Capital Fund has committed $6 million (about Ksh550 million) for a significant minority stake in Kijenge Animal Products Ltd.
Kijenge is a diversified agro-processing company based in Arusha, Tanzania, engaged in maize milling, animal feed production and poultry (broiler) farming and processing. The company is building a foundation for its next growth phase that will see it grow and diversify its revenues by upgrading its current production infrastructure and by introducing new production lines.
Fanisi will play an integral role in the company’s next growth phase and will provide growth capital for a significant minority stake in Kijenge. “This partnership provides us with growth capital which will enable us to diversify our product offering and further support our customers’ needs,” said Kijenge’s Founder and Chairman, Andrew G. Mollel.
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Fanisi Capital’s Managing Partner Tony Wainaina hailed the deal and the entrepreneurial spirit the company has experienced under Mr Mollel’s leadership. “We are supporting a company with a long history and a good brand name in the Tanzania market. This deal marks our first transaction in Tanzania and is in line with our sectoral focus areas of agribusiness in the East African region”
With Kijenge, Fanisi has added yet another investment into its portfolio which now stands at 8 companies spread across the region and in various sectors that include agribusiness, education, retail/consumer (FMCG) and healthcare.
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