Citrum

Transforming two neglected farms in Southern Mozambique to a banana plantation with export potential.

Investment information

$5,925,000
Committed investment
Primary production with added-value activity
Primary value chain focus
Committed investment
Primary value chain focus

Expected impact

260
Jobs created / maintained
$220,000
Total annual income for employees
350
Smallholder farmers linked to market
Jobs created / maintained
Total annual income for employees
Smallholder farmers linked to market

Our role

The new owners of Citrum shared AgDevCo's vision of promoting a Mozambican-owned agribusiness by restructuring two under-performing farms and reinvigorating employee morale. AgDevCo invested $1.5m in equity alongside the new owners’ injection of $1.85m. With plans for intensive rehabilitation and planting, initial expenditure was focused on a pack-house, farm equipment and an efficient irrigation infrastructure, with AgDevCo providing agronomic advice to help mitigate local water shortages. 

Smart investment and support

Best-in-class example

AgDevCo recognised Citrum’s potential as a best-in-class, sustainable transformational project, capable of securing further investment. Employees are re-motivated by the prospect of stable jobs, and productivity has improved through operational reorganisation and targeted training, Citrum has proven its model and is now looking to move into the next phase of its business plan.

Our investments in Mozambique

Investment Total invested Investment type Start date
AC Matama $500,000Debt / Equity2014
Citrum $5,925,000Debt / Equity2017
ECA $2,645,000Debt / Equity2011
Quinta da Bela Vista Limitada (QBV) $3,000,000Debt / Equity
Transurban $1,150,000Debt / Equity2018
Westfalia Fruto $5,580,000Debt / Equity2014