Ferngroove BC, a Lusaka-based investment advisory firm, has secured up to US $30 million funding targeted at boosting the agro-processing sector in Zambia.
According to a press release issued, Tuesday, Ferngroove BC Chairman, Conrad Gomani revealed that his firm, and its principal partners from Kenya, have approved a capital injection of up to US $30 million to inject into agro-processing businesses in Zambia.
Gomani disclosed that the funds can be accessed as equity or debt by companies looking for agro-processing capital with tickets ranging from US $5 million to US $30 million, and within eight weeks of application.
“Our funding partners have special interest in funding agro-processing and value-addition ventures. They have made similar investments in South Africa, Botswana and Zimbabwe,” Gomani stated, adding that the investment firm has set its eyes on Zambia due to a positive economic outlook.
Gomani added that Ferngroove’s funding partners have appointed Ferngroove BC to handle disbursements in Zambia for all prospective agro-businesses in the country.
He further said agro-processing firms wishing to benefit from the funding should have been profitable for the past two years and must have a good corporate governance structure solidly in place.
Ferngroove is a wholly-owned Zambian financial and corporate finance advisory firm that specializes in business valuation, corporate restructuring, mergers and acquisitions, capital and financial restructuring, among others, and has been operating for 10 years.