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AGF Magazine - March 2019 issue

  • We focus on fixed income opportunities in both public and private markets. Read on to find in which fixed income instruments and in which African markets to invest on pp. 10-11. In addition, Ashley Benatar of Ashburton Investments shares his views on benefits and risks of investing in mezzanine debt on p.22.
  • We speak with Jérémie Ceyrac, Head of Equity, Responsible Investments at Proparco to learn more about the French development institution, financial products on offer, recent investments in Africa and African impact investment scene (pp. 13-15).
  • This month’s market feature focuses on Nigeria. Sven Richter, Fund Manager, Drakens Capital, writes about his recent trip to the West African country and his observations. “While Nigeria is attractive as an investment destination, the GDP growth is a disappointment for a county that we expect to be one of the leaders in Africa,” he says (pp. 16-17).
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News > Private Equity > Deals

DOB Equity invests in Kenyan macadamia processing company

Africa Global Funds
Dec. 3, 2018, 2:11 p.m.
545

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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