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DOB Equity invests in Kenyan macadamia processing company

Africa Global Funds
Dec. 3, 2018, 2:11 p.m.

Word count: 377

DOB Equity has invested in Ten Senses Africa, an organic and fair-trade certified macadamia producer, processing and trading company in Kenya. 

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DOB Equity has invested in Ten Senses Africa, an organic and fair-trade certified macadamia producer, processing and trading company in Kenya. 

The investment will allow Ten Senses to expand its processing capacity to trade larger volumes at higher margins, launch new products and further develop its sales across Europe and the US.

Saskia van der Mast, Investment Manager of DOB Equity, said: “Apart from the instantly strong partnership we felt with the management based on its values to grow Ten Senses, we were equally attracted by the social as well as environmental impact of the sector.” 

“Macadamia processing is zero-waste, its shells are used as fuel, the cracked nuts are being sold and those rejected are being used for high value macadamia oil,” she said.

With strong ties to farmers and buyers, Ten Senses Africa is well positioned to fulfill the growing demand for macadamia worldwide. 

Ten Senses sources nuts from over 3.000 farmers mostly located on Kenya’s coast, whilst operating processing facilities in Nairobi.

Demand for organic, traceable and fair-trade tree nuts and nut based products of African origin is on the rise both globally and locally, with health-conscious consumers driving up demand, which are often claimed to be ‘superfoods.’ 

Ten Senses will diversify its product base, with more nuts and including dried fruits, using existing sourcing infrastructure and markets.

DOB Equity said that Ten Senses has a significant social impact. 

It provides small-holder coastal farmers with consistent offtake, access to inputs, seedlings and training to increase output per farmer, whilst producing nutritious and healthy products for consumers.

Brigit van Dijk – van de Reijt, CEO of DOB Equity, said: “We expect the growing global demand for health-conscious and natural, organic products to continue over the long-term. As one of the largest certified organic producers in Kenya, Ten Senses is well-positioned to benefit from these trends.”

Frank Omondi, CEO of Ten Senses Africa, added: “We are very pleased and looking forward to working with DOB Equity on the expansion of Ten Senses.”

“We have an ambitious growth trajectory and to unlock the full potential throughout the value chain, we need a local partner like DOB Equity that understands what it takes to secure sourcing, improve the process and enter new markets.”

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Africa Global Funds (AGF) is a monthly magazine for asset management professionals and institutional investors worldwide interested in the African continent. AGF was created as a relevant and engaging resource that can provide readers with an insight of what is going on in the African asset management space. Drawing on an intense dialogue with a constantly expanding group of key decision-makers in the industry, we cover traditional and alternative asset classes of African asset management. From this dialogue we work hard to produce a compelling blend of hard news, incisive commentary, detailed sector and regional reports, exclusive interviews and proprietary data.

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