Macadamia firm Privamnuts secures Sh387 million funding

The investors are Aavishkaar Capital and the German state-owned investment and development bank (KfW).

“We are excited to be partnering with Aavishkaar Capital, with whom our goals are aligned. Privamnuts and Aavishkaar Capital believe in creating high-quality jobs that can improve the economic and social well-being of farmers and workers and uplift communities while delivering high-quality agri & food products to global customers.” said Privamnuts EPZ Kenya Ltd Founder & Managing Director Patrick Mbogo.

The ESG First Fund is a $250 million coffer that primarily invests in Africa and Asia with a mandate to generate superior Environmental and Social Governance (ESG) outcomes, with commercial and financial returns alongside positive social impact.

The fund’s earlier two investments in Africa were in Hela Apparel Holdings PLC, a company providing sustainability-focused apparel supply chain solutions to some of the world’s leading apparel brands, and in Balaji EPZ, an apparel manufacturer with two decades of manufacturing experience for the world’s leading denim brands.

Privamnuts is based in Embu, Central Kenya, at the foot of Mount Kenya, where the soil allows for the natural growth of high-quality macadamia nuts and where most farmers in Kenya are located.

The company works with 10,000 small-holder farmers and provides them with input support, training on good agricultural practices, and making timely payments.

“We are excited to invest in Privamnuts and help strengthen the company’s position as one of the country’s largest macadamia exporters. …

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