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Norfund's investee, AFC, and Nutreco announce a joint venture for aquaculture feed production in Zambia

Norfund's investee, African Century Foods (ACF), and Nutreco’s subsidiary Skretting Zambia have entered into a joint venture for the production, sale and distribution of tilapia feed. The joint venture will construct and operate the first dedicated aquaculture feed plant in Zambia.

African Century Foods (ACF) is Sub Sahara Africa’s largest aquaculture  producer with tilapia farms in Zimbabwe, Zambia and Uganda. . Its supply of affordable, high quality fresh protein is important in countries facing challenges related to the availability and affordability of food supplies. Norfund invested in ACF in 2013 and is  a 30% shareholder in the company. . Sustainable agri- and aquaculture in East and Southern Africa is among Norfund's strategic focus areas.

Aquaculture in Zambia is escalating  at a rapid pace  to reduce the dependency on imports  and in order to develop a sustainable domestic fish farming industry . L ack of reliable high quality fish feed is  one bottleneck for  further development of the regional Zambian aquaculture sector, which primarily consists of tilapia farming.

Nutreco is a global leader in animal nutrition and aquaculture feed. The new “Skretting Zambia” plant will have an initial capacity of 25,000 tons/year of  fish feed. The plant  will be located at Siavonga, Lake Kariba, which is close to the major fish farms in Zambia and Zimbabwe. A  significant part of the production capacity will be used to supply ACF, while also providing access to high quality fish feed to other industrial scale and smallholder fish farms throughout the region.

Norfund, through its  two nominated board directors in ACF, Cato Lyngøy and Øystein M. Falch, has been instrumental  towards securing the joint venture with Skretting  and securing this important agreement  between ACF and Nutreco. 


See full press release here