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GLAD

In 2012, Norfund provided a loan to Great Lakes Agriculture Development (GLAD) through the Small Enterprise Loan mechanism.

The promoter is Norwegian and has extensive experience from Africa as well as from farming, having run a mixed arable farm in Norway, and GLAD now consists of 2 maize farms in Uganda.

In Uganda 10 million hectares of farmable land is not in use, and the farming methods are outdated, with some of the lowest tractor densities and fertilizer uses in Africa. As the project progresses, the promoter intends to expand both scope and scale of the company, and to create a "Model Farm", demonstrating that farming is a profitable profession, and to contribute to modernization of Ugandan agriculture.

Facts

  • Company: Great Lakes Agriculture Development (GLAD) Ltd
  • Sector: Agriculture
  • Investment year: 2012
  • Instrument: Loan
  • Committed amount (MNOK): 4,6