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AgDevCo commits $15m follow-on investment to Victory Group

LONDON, April 07, 2026 (GLOBE NEWSWIRE) — AgDevCo, the specialist agriculture investor, has made a $15 million follow-on investment in Victory Group, an East African aquaculture company producing and distributing Nile tilapia.

Victory Group farms tilapia on Lake Victoria in Kenya and Lake Kivu in Rwanda. The company sells fresh fish to thousands of mama samakis (female market traders), via more than one hundred sales outlets. The company expects to produce 30,000 tons of fish in 2026, helping broaden access to affordable and sustainable protein across the region.

The financing will support Victory Group’s next phase of expansion, including multiple new farming sites in Kenya and Rwanda. AgDevCo’s mezzanine loan will help the company respond to rising regional demand and improve reliability of supply for market traders.

Joseph Rehmann, founder and Chief Executive Officer of Victory Group, said: “Our aim is to build a leading aquaculture business that supplies nutritious protein at scale, while creating opportunities for the traders and communities that depend on our value chain. AgDevCo’s investment will help us expand production and strengthen distribution as demand for affordable, high-quality fish continues to grow across East Africa.”

John Jakobsson, Investment Director at AgDevCo, said: “Our follow-on investment reflects our confidence in Victory Group’s management team and growth potential. Since our initial investment of $4 million in 2021, the company has significantly increased production while improving operational efficiency. We are delighted to put our capital to work to drive more impact in the region.”

Trinity International (UK), BJTK (Netherlands), Martha Mbugua & Associates (Kenya) and Certa Law (Rwanda) provided AgDevCo with legal transaction services.

AgDevCo invests exclusively in the African agriculture sector, providing patient capital to businesses that create jobs, strengthen food systems and support economic growth. It has $340m in assets under management and has made more than 88 investments to date, including 51 exits.

Contact for media enquiries: John Jakobsson, Investment Director ([email protected]).

Photos accompanying this announcement are available at:

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GLOBENEWSWIRE (Distribution ID 1001173900)

AgDevCo expands its portfolio in Zambia with a new investment in the poultry sector

LONDON, Oct. 02, 2025 (GLOBE NEWSWIRE) — Specialist agriculture investor AgDevCo is pleased to announce its latest investment in Hybrid, an integrated poultry producer located in Zambia.

Hybrid is a leading company in Zambia’s poultry industry, operating a vertically integrated model that spans the entire value chain from breeder farms to processed poultry products. It is part of the African Poultry Development Group which has operations in Zambia, Kenya, Tanzania and Uganda.

Hybrid has more than 1,200 employees and supplies over 2,000 farmers across the country with day–old chicks, contributing to the poultry sector’s development. The company sells processed poultry to major retailers and restaurants across Zambia.

AgDevCo’s investment, a USD10 million senior debt loan, will enable Hybrid to increase its processing capacity by building a modern abattoir which will create another 270 jobs and support the company’s growth.

Jim Henderson, Managing Director at AgDevCo, said:
“We are pleased to be partnering with Hybrid to make this major investment in the Zambian poultry industry. The expansion will drive local job creation and skills development while strengthening regional food security.”

Richard Keeley CEO of Hybrid, said:
“This state–of–the–art facility represents a significant milestone. It will be the largest of its kind in the region, allowing us to supply the Zambian market, where demand is growing rapidly, and export to Lubumbashi, the second–largest city in the DRC. Designed with sustainability at its core, the plant incorporates advanced energy–efficiency measures and wastewater treatment. We are delighted to welcome AgDevCo as a strategic investment partner to make this project a reality.”

AgDevCo is a specialist impact investor operating exclusively in the agriculture sector in Africa. Our mission is to build successful African agribusinesses through long–term investment and support to deliver positive impact at scale. We invest debt and equity in African agribusinesses to create jobs, improve food security, and boost prosperity. With $340 million assets under management, we have made over 88 investments to date (of which 51 exited). Our investments leverage private capital into socially responsible farming and agri–processing businesses in Africa, with benefits for smallholder farmers and local communities.

Contact for media enquiries: Jim Henderson, Managing Director; [email protected]


GLOBENEWSWIRE (Distribution ID 1001131030)

AgDevCo makes follow-on investment in EFAfrica Group

LONDON, Sept. 03, 2025 (GLOBE NEWSWIRE) — Specialist agricultural investor AgDevCo is pleased to announce a $7.2 million follow–on investment into its longstanding portfolio company, EFAfrica Group Limited (EFAG).

EFAG is an equipment leasing company focused on small and medium–sized enterprises and farmers in Africa. The company serves over 1,500 lessee entrepreneurs across Kenya, Tanzania and Zambia, many of whom lack the formality and collateral requirements sought by banks. Popular leases include trucks, tractors and other agricultural equipment, with a typical value of between $10,000 and $80,000.

AgDevCo’s latest investment, a structured long–term loan, allows EFAG to offer larger leases to agribusiness corporates and farming services providers. In Tanzania, EFAG is supporting Farming and Engineering Services (FES), a precision agriculture company founded in 1967. FES is involved in multiple projects across the country, including a greenfield development in the Kigoma region, where it provides land preparation, planting and harvesting services.

John Jakobsson, Investment Director at AgDevCo, “We are pleased to back EFAG’s continued growth as it expands its footprint and product offering, reaching thousands of entrepreneurs, supporting sustainable economic growth in rural areas, and contributing to regional food security.”

Nicomed Bohay, Chief Operating Officer of EFAfrica Group, “This partnership allows EFAG to deepen its role in supporting agricultural transformation through mechanisation in East and Southern Africa. By providing the right tools and financing solutions, we are empowering businesses that drive rural development and strengthen regional food security.”

Mike Aldworth, Chief Executive Officer of Farming and Engineering Services, “We are proud to be part of this important partnership which supports our expansion in East Africa. Since our founding in 1967, FES has grown to become a regional leader in precision agriculture and mechanised contracting services. We greatly appreciate the continued backing of EFAG and AgDevCo, who are helping us to unlock new opportunities to improve productivity and food security across the region.”

Trinity International (UK), Bowmans Mauritius and Kilundu Giattas & Partners (Tanzania) provided AgDevCo with legal and advisory support to the transaction.

Cliffe Dekker Hofmeyr (South Africa) provided EFAfrica Group with legal support for the transaction.

AgDevCo is a specialist impact investor operating exclusively in the agriculture sector in Africa. Our mission is to build successful African agribusinesses through long–term investment and support to deliver positive impact at scale. We invest debt and equity in African agribusinesses to create jobs, improve food security, and boost prosperity. With $340 million assets under management, we have made over 88 investments to date (of which 51 exited). Our investments leverage private capital into socially–responsible farming and agri–processing businesses in Africa, with benefits for smallholder farmers and local communities.

EFAfrica Group is a pan–African equipment leasing company, headquartered in Ebene, Mauritius, with operations in Tanzania, Kenya and Zambia. Its mission is to bridge the financing gap in agricultural mechanisation and related sectors by offering flexible, tailored lease solutions to SMEs and large agribusinesses. www.efafrica.group.

Farming and Engineering Services (FES), headquartered in Blantyre, Malawi with regional operations in Malawi, Zambia and Tanzania, is the leading supplier and contractor of agricultural, forestry, and construction equipment and services in Southern Africa. FES partners with commercial estates and smallholder farmers alike, providing mechanisation, agronomic, and engineering solutions to drive productivity and growth. www.fes.africa

Contact for media enquiries: John Jakobsson, Investment Director, [email protected]


GLOBENEWSWIRE (Distribution ID 1001125914)

Planting Naturals secures $7m from AgDevCo for sustainable organic palm oil

LONDON, Sept. 03, 2025 (GLOBE NEWSWIRE) — AgDevCo is pleased to announce a USD 7 million investment in Planting Naturals, a leading producer of sustainable organic palm oil in Sierra Leone. Planting Naturals operates a vertically integrated model, sourcing fruits from both its own plantations and a growing network of smallholder farmers, to produce organic crude palm oil and palm kernel oil for export.

The company employs over 1,500 people and procures palm fruit from about 8,000 smallholder farmers in rural Sierra Leone. The company trains farmers in sustainable agriculture and supports certifications such as the Roundtable on Sustainable Palm Oil (RSPO) and the EU’s deforestation–free regulation (EUDR).

AgDevCo’s investment will enable Planting Naturals to increase fruit production, increase mill capacity, and upgrade logistics infrastructure. The investment is complemented by technical assistance to strengthen farmer support programmes, including digital and traceability.

“This investment reflects our commitment to building sustainable agriculture supply chains in Africa linking smallholder farmers to local and international markets,” said Kweku Koranteng, AgDevCo’s Regional Director for West Africa. “Our patient, flexible capital supports rural communities to meet rising global demand for sustainable palm oil, with significant benefits in terms of jobs and inclusive economic growth.”

“We are delighted to welcome AgDevCo as a long–term partner in our mission to transform Sierra Leone’s palm oil sector,” said Jan Hein De Vroe, CEO of Planting Naturals. “This investment will allow us to scale our operations, strengthen our partnerships with thousands of smallholder farmers, and further position Sierra Leone as a source of certified, sustainable, and traceable organic palm oil. Together, we will demonstrate that palm oil can be produced in a way that delivers shared value—improving farmer incomes, empowering rural communities, and protecting the environment.”

AgDevCo is a specialist impact investor operating exclusively in the agriculture sector in Africa. Our mission is to build successful African agribusinesses through long–term investment and support to deliver positive impact at scale.

We invest debt and equity in African agribusinesses to create jobs, improve food security, and boost prosperity. With $340 million assets under management, we have made over 89 investments to date (of which 51 exited). Our investments leverage private capital into socially responsible farming and agri–processing businesses in Africa, with major benefits for smallholder farmers and local communities.

Contact for media enquiries: Kweku Koranteng, Regional Director; Tel: +44 (0) 20 7539 2650; email [email protected] or [email protected]. 


GLOBENEWSWIRE (Distribution ID 1001125942)