AgDevCo has agreed to invest US$9.75 million in DekelOil, which is an agribusiness company that produces palm oil in Cote d’Ivoire. The palm oil processing infrastructure includes a computerized facility with the capacity to process 1 million plants per year, has supply agreements with 27,000 hectares of palm estates and 1,886 hectares of internal company plantations. AgDevCo’s investment consists of a 10-year senior secured loan of US$8.1 million to DekelOil Cote d’Ivoire, and a US$1.65 million equity investment into its London stock exchange parent company DekelOil Public for a 10% stake. The funding will be used to strengthen DekelOil’s balance sheet through refinancing of term debt, financing of environmental social and governance initiatives as well as ensure that the company has sufficient working capital.
AgDevCo is an impact investor specializing in agribusiness investments in Sub-Sahara Africa. AgDevCo’s portfolio consists of over 50 investments in production, processing and distribution. AgDevCo is headquartered in London with representative offices in Zambia, Malawi, Tanzania, Uganda, Rwanda, Ghana and Sierra Leone. The organization has contributed to the agricultural sector within many regions in the African continent.