Phatisa Food Fund 2

Equity : January 2021

BIO has invested USD 7 M in equity in the Phatisa Food Fund 2 LLC, a Private Equity fund with a focus on the African food & agribusiness value chain.

Amount

€ 5,767,300.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation
  • Food security & rural development
  • Gender

Beneficiary locations

Sub-Saharan Africa: Ghana, Kenya, Malawi, South Africa, Tanzania, Uganda, Zambia

Investment field

Investment Companies & Funds

Activity

SME Fund

Organisation

Phatisa Food Fund 2

Domicile

Mauritius

PFF 2 will invest across the African food value chain, considering investments in mechanisation, inputs, poultry and meat production, food processing and manufacturing, logistics, aggregation and distribution across Sub-Saharan Africa. The investment will strengthen and increase food supply, local production and distribution across the region.

The Fund, via its investment in companies in the food value chain, targets over 90,000 small-holder farmers and micro-entrepreneurs and aims to create over 2,000 permanent jobs and sustain another 10,000 jobs. The investment follows the success of Phatisa's African Agriculture Fund (AAF), which has created more than 1,800 jobs and benefitted 86,000 farmers operating in over 20 markets across the continent.

Phatisa Food Fund 2

We want to increase food security in Africa by supporting sustainable food production in Africa for local markets and by helping African food value chains and companies grow

Carole Maman, Chief Investment Officer at BIO

Building on AAF, Phatisa Food Fund 2 will enable small-holder farmers and micro-entrepreneurs to develop their skills, broadening access to markets and economic opportunities. The new fund will also address access to, and affordability of products among farmers and promote smart agricultural methods - enhancing crop resilience, reducing food loss and waste by 50% in the companies it finances, while increasing outputs, yields and incomes.

Development impacts

  • Local economic growth

    The Fund mobilises long term capital flows into Africa to unlock business growth in (SME) companies active in agri-business and food value chain and are expected to sustain 10,000 permanent jobs and create 2,000 quality jobs and contribute to tax revenues.

  • Private sector consolidation/innovation

    The Fund’s investees are/will be active in a sector that is being underserved by conventional finance providers. The firm is supported by in-house industry specialists with a track record of driving value in food and beverages, FMCG, route-to-market, mechanization and inputs.

  • Food security & rural development

    The Fund’s target is to feed Africa and increase the supply of nutritious food for domestic markets by focusing on business growth and strategies to improving yield. PFF2 invests in inclusive models across the African continent- businesses that link smallholder farmers, micro-entrepreneurs and SMEs to the agribusiness & food value chain in meaningful ways that result in an increase of income for these groups.

  • Gender

    PFF2 targets investees to have a gender policy in place and to increase women employment.

    Phatisa Foundation, a small grant fund, supports social programmes which benefit women. For example, the majority of beneficiaries in the Child Nurse Practice Development initiative in Malawi are women.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

FES

Malawi, Zambia

Holistic, cost-effective agriculture solutions are pivotal to sustain and increase yields and minimise the risk of crop failure for both smallholders and commercial farms

Rolfes Group

South Africa

Rolfes Agri - part of the Rolfes group of companies - specialises in plant nutrition products, agricultural remedies and water quality improvement products. Through the sale of more than 9,000 tonnes of products in 2020 alone, the firm is contributing to, and enhancing, food security in Africa –South Africa.

Read impact and news about this project

Phatisa Food Fund 2 reaches $143 million final close from DFI commitments

News

Phatisa Food Fund 2 reaches $143 million final close from DFI commitments

04-02-2021

CDC Group, Norfund, Finnfund, FinDev Canada and BIO jointly commit $82 million to Phatisa’s second food fund, a Sub-Saharan African fund aiming to create over 2,000 jobs in food and agriculture and to increase agricultural output by 3m tonnes.

Read more

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