Firm bags Sh1.2 billion funding for macadamia production
Nairobi, Feb. 20 -- Pamoja, a Switzerland-based agricultural farm, which runs a macadamia processing plant in Kenya and farms in Tanzania, has raised $8.5 million (Sh1.2 billion) in funding to boost the production of the nut.
The company, which focuses on the high-end market of macadamia, has received investment from French asset management company Mirova, a subsidiary of Natixis Investment Managers.
"The investment will enable the company to accelerate its projects in Kenya and Tanzania, where Pamoja is targeting 6,200 hectares of managed lands according to stringent sustainability criteria (organic and Fair Trade) and support for 13,000 small local producers by 2031," said the firm in a statement.
Some 6,000 small-scale farmers suppl...
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