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News > Private Equity > Deals

Moringa makes first investment in Ghana

Africa Global Funds
Oct. 23, 2018, 8:22 p.m.

Word count: 409

Moringa, an impact investment fund specialized in agroforestry companies with strong environmental and social impact, has announced that it will invest $5m in B-BOVID, a Ghanaian agribusiness company.

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Moringa, an impact investment fund specialized in agroforestry companies with strong environmental and social impact, has announced that it will invest $5m in B-BOVID, a Ghanaian agribusiness company.

Adrien Henry, Investment Director with Moringa, said: “This partnership between Moringa and B-BOVID is our first investment in Ghana and it reinforces Moringa’s presence in Western Africa and its strategies to create strong sustainable practices on the continent.” 

“We are already working to strengthen the company’s human resources, and increase its overall efficiency while consolidating its position as a leading center of agroforestry and livelihood enhancement activities in Ghana and beyond. Following Moringa’s bold investment strategy, we will strive for achieving a sustainable polyculture model around palm oil farming and serve both local and regional markets.”

Created in 2014, B-BOVID is a national and UN-Award winning farming and processing palm oil enterprise based on social entrepreneurship principles and agroforestry practices. 

The company already produces crude and kernel palm oil from fruits of more than 2,000 farmers.

Originally B-BOVID developed a 110 ha demonstration plantation showcasing oil palm agroforestry practices and has implemented a comprehensive training structure to promote the best agroforestry farming models and management practices toward revenues diversification, social inclusion and low environmental impacts. 

The company already performed training of several thousands farmers and students to climate smart agriculture.

The investment will enhance and strengthen the company’s unique outgrowers based palm oil polyculture model, with the objective to engage up to 4,000 farmers within the next years. 

Tree maintenance and preservation will be a forefront concern in the implementation of its agroforestry model. 

It will also help modernizing B-BOVID’s manufacturing plant and expand its production capacity to further meet growing local and regional demand while improving livelihood of the outgrowers. 

Red palm oil is known as a source of beta-carotene, which is especially important for young children growth.

Issa Ouedraogo, a fully-dedicated Ghanaian social entrepreneur, son of a local farming family with long experience in international development institutions created and leads B-BOVID. 

He said that “the agreement with Moringa is a recognition by the international investors’ community of B-BOVID’s credibility and viability as a social enterprise, providing sustainable solutions to deforestation, unemployment and poverty in the country”. 

He confirmed that B-BOVID is committed to transform the face of agribusiness in Ghana and called for support from state and non-state players, particularly from the banks to ensure agriculture attractiveness to the youth generation”.

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