IFC to Finance Agrivision Africa’s Grain Production Expansion
IFC, a member of the World Bank Group, announced it is providing a US$20 million equity investment to Agrivision Africa to support the company’s US$30 million grain production expansion program.
The investment will be used to modernize existing grain production operations, with the goal of contributing to Agrivision Africa becoming a market leader in Zambia’s grain sector, and eventually in foreign markets.
Agrivision Africa, formerly known as Chayton Africa, is an investee company of the listed agribusiness group, Zeder Investments. The company owns 18,000 hectares of land, focusing on large-scale, commercial production of soybeans, wheat and maize, producing 20,000 tons of maize per year, 12,000 tons of soybeans per year, and 30,000 tons of wheat per year. The company also has a mill that processes 40,000 tons of maize and 20,000 tons of wheat per year.