Finland based institution provides a €2.5 million secured loan to Africado

Finnfund based in Finland has approved a €2.5 million secured loan to Africado, which is a Tanzanian avocado producer. Africado is Tanzania’s largest grower and exporter of avocadoes which was established in 2007. Norfund provided 40% of the equity required for the expansion project in 2009. The company employs over 130 permanent and 120 seasonal jobs of which 50% are women. The company exports its produce to the EU and the Middle East via the Mombasa port. Africado has been expanded its farming community to 2,290 farmers planting over 50,000 avocado trees during the project period since 2009.

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