Home Africado Limited Africado Limited In brief Africado operates Kifufu and Gararagua farms in the Kilimanjaro region in Tanzania, where it cultivates and processes avocados. Africado has 310 hectares of irrigated Hass and mixed avocado species plantations and a modern packhouse. Resource-efficient farming practices are used, and, e.g. the water usage is well below the industry average globally. The Company has also an extensive smallholder scheme through which the local farmers have been trained and certified, and market access to their produce is ensured. The avocados are exported mainly to Europe. To expand and diversify the production, the additional funding will be used to plant the Gararagua farm's unplanted area and develop a new Mwanza farm planting macadamia trees. Main development impact Africado currently has 270 permanent employees, of which 40% are women. The expansion investments are estimated to create additional permanent and seasonal jobs. The outgrower program currently encompasses around a couple of thousand local farmers, of which a couple of hundred are now active suppliers. Through the smallholder and commercial farmer schemes, the company is creating a source of livelihood for hundreds of households. Africado has played a key role in developing the avocado sector in Tanzania. The Company also contributes positively to Tanzania's negative current account through its exports. The company is 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): November 2022 Currency: EUR Finnfund's financing (commitment): 2,000,000 Instrument: Loan Size of the project financing: EUR 4,000,000 Share of Finnfund's financing (%): 50 % 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 April 2018 EUR 2,500,000 November Read our transparency and disclosure policy More information: News Current investments Business sectors Contact us Key facts Name: Africado Limited Sector: Agriculture Region: Africa Country: Tanzania Currency: EUR Finnfund's financing (commitment): 2,000,000 Signing date (month/year): November 2022 Last update: March 2023