EMF is a leading premium carnations producer with farms in Ethiopia and Kenya.
EMF is a leading premium carnations producer with farms in Ethiopia and Kenya. Our $9.0m mezzanine loan will support the expansion into two further farms in Kenya enabling the company to increase its production by 40 hectares. The expansion will provide valuable employment and training opportunities for local communities in the Naivasha region, with employee numbers expected to reach 600 FTEs. The company is actively exploring the future use of sea freight to minimise its carbon footprint.
AgDevCo has supported EMF with TA for capacity building and the development and implementation of a good practice aligned Environmental and Social Management System (ESMS) in line with AgDevCo’s Responsible Business Principles (RBPs) to work towards alignment with the IFC Performance Standards.
| Investment | Total invested | Start date |
|---|---|---|
| East Africa Magical Farms | $8,600,000 | 2023 |
| Hatch Africa | $6,500,000 | 2024 |