Africado was established in 2007. It produces Hass avocados in West Kilimanjaro in Northern Tanzania for export to the EU. Our investment financed Africado’s start-up and first two years of operations.
In 2009, Africado successfully raised additional capital from the Norwegian Development Finance Institution, NorFund. This investment enabled the business to complete the development of its 110 hectare nucleus plantation and its packhouse. Africado has also established an outgrower scheme which will benefit 3-4,000 small scale farmers covering a total of at least 200 hectares.
Highland is a seed company located in Mbeya in the Southern highlands of Tanzania. The business processes and markets hybrid and open-pollinated maize seed varieties and distributes seed throughout Southern Tanzania. Highland has a strong focus on research and development of seed varieties suitable for varied ecological zones and climate patterns. Pearl Capital's investment will provide Highland with medium-term capital to increase its production capacity by acquiring additional processing equipment and increased storage capacity and will provide it with the working capital necessary to service both its large market in Southern Tanzania as well as its planned expansion into Northern Tanzania.