In brief
Founded in 2011, Yalelo has grown quickly to become the leading fisheries business in Zambia and Uganda and the largest producer of freshwater fish in Sub-Saharan Africa, with 18,000 tons of harvest in 2022. Yalelo operations cover the entire lifecycle of tilapia, from feed production to retail and wholesale. The company employs about 1,500 permanent and casual workers.
Main development impact
As a leading aquaculture company in Sub-Saharan Africa, Yalelo’s impact can be significant on the aquaculture industry in Zambia and Uganda, its productivity and the development of the aquaculture value chain (both upstream and downstream). Yalelo’s production helps increase the consistent supply of sustainably produced affordable animal protein in Zambia and Uganda. Yalelo is also providing vital formal employment opportunities in its rural production site and across the distribution chain. The company is working towards a better gender balance within its workforce and looking into possibilities to better track its impact on people’s livelihoods in cooperation with Finnfund’s development team. Yalelo is also classified as a gender investment.Investment details
| Name: | Yalelo Limited (First Wave Group B.V) |
|---|---|
| Project number: | 80000147 |
| Region: | Africa |
| Country: | Zambia, Uganda |
| Sector: | Agriculture |
| Signing date (month/year): | December 2022 |
| Currency: | USD |
| Finnfund's financing (commitment): | 9,000,000 |
| Instrument: | Equity |
| Jurisdiction of registration: | Netherlands |
| Channeled financing (name of company): | First Wave Group |
| Size of the project financing: | USD 84,000,000 |
| Share of Finnfund's financing (%): | 10,80 % |
| Status: | Active |
| Website: | www.yalelo.com |
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 |
|---|---|---|---|---|---|
| Yalelo Limited | Zambia | August 2019 | USD | 6,000,000 | Equity |
