The company manages 18,000 hectares of FSC-certified pine and eucalyptus plantations in Uganda and Tanzania as well as 12,000 hectares of conservation area, promoting biodiversity and carbon sequestration.
New Forests Company (NFC), founded in 2004, is a vertically integrated forestry company with 18,000 hectares of FSC-certified pine and eucalyptus plantations in Uganda and Tanzania. The company also manages 12,000 hectares of conservation area, promoting biodiversity and carbon sequestration.
NFC manufactures sustainable wood products including electricity and telecom transmission poles, kiln-dried sawn timber for building construction, and transport pallets. The company supplies local and regional markets, which would otherwise rely on imported timber, or timber from non-sustainable sources.
AgDevCo’s $10m long-term investment, and a $750k technical assistance grant, finances capital expenditure projects and supports smallholder farmer suppliers in the vicinity of the company’s plantations. Following AgDevCo’s investment, NFC has 388 full-time employees and engages 4,384 smallholder farmers.
| Investment | Total invested | Investment type | Start date |
|---|---|---|---|
| Nakifuma Farming Company | $3,140,000 | Debt / Equity | 2019 |
| New Forests Company | $10,000,000 | Debt / Equity & Technical assistance | 2022 |
| Uzima Chicken (Uganda) | $5,000,000 | Debt / Equity & Technical assistance | 2022 |