Home Africado Limited Africado Limited In brief Africado was established in 2007 as Tanzania’s first commercial and international-grade producer of avocados. Since then, it has developed the business of producing and exporting Hass avocados. The company farms 137 hectares at Kifufu Estate around the Kilimanjaro area in Tanzania and contracts other commercial and smallholder farmers to supplement its production. To achieve premium quality fruit, the avocados must be handled to a high standard so Africado built and operates a fully operational packhouse at Kifufu Estate, where all the fruit is packaged and exported, primarily to the EU. Africado is developing the business and starting the production in a new farm, Gararagua, with an avocado orchard of 175 hectares. Africado aims to expand the harvest season and increase the economic scale of its operations. The project also encompasses the expansion of the capacity of the existing packhouse. Main development impact Africado currently employs 390 permanent and 200 seasonal jobs. The expansion investments are estimated to create additional permanent and seasonal jobs. 53% of permanent and 51% of seasonal employees are women. The outgrower program currently encompasses around 2,000 local farmers. The company creates income and employment for thousands through smallholder and commercial farmer schemes. Africado also contributes positively to Tanzania's negative current account through its exports. The company is already the biggest taxpayer and employer in the Siha district. Investment details Name: Africado Limited Project number: 80000005 Region: Africa Country: Tanzania Sector: Agriculture Signing date (month/year): April 2018 Currency: EUR Finnfund's financing (commitment): 2,500,000 Size of the project financing: EUR 4,700,000 Share of Finnfund's financing (%): 53 % Status: Active Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year. Other investments Name Country Signing date (month/year) Currency Finnfund's financing (commitment) Instrument Africado Limited Tanzania November 2022 EUR 2,000,000 Loan April Read our transparency and disclosure policy More information: Ajankohtaista ja julkaisut Nykyiset investoinnit Toimialat Yhteystiedot Key facts Name: Africado Limited Sector: Agriculture Region: Africa Country: Tanzania Currency: EUR Finnfund's financing (commitment): 2,500,000 Signing date (month/year): April 2018 Last update: May 2019