Vertical Agro (Sunripe & Serengeti Fresh) farms fruits and vegetables in Kenya, Tanzania and Ethiopia
Background
Vertical Agro Limited is one of the oldest horticulture exporters with presence in Kenya, Tanzania and Ethiopia. The three key business areas: primary production of fruit and vegetables, packaging and marketing. The main operations are in Tanzania through Serengeti fresh and in Kenya through Sunripe. Vertical Agro produces 6500 tonnes of fruits and vegetables annually and is the largest exporter of organic vegetables in Kenya. Norfund was the first external investor in this local family business and in 2014 Norfund committed to a convertible loan facility of 41 MNOK to allow Vertical Agro expand its product range and improve yields and productivity.
Through its wholesale and marketing company in the United Kingdom, Vertical Agro also sells ready-to-eat and ready-to-cook products in several European countries.
‘We were the first company that started exporting
Zia Ali, CEO of Serengeti Fresh
vegetables from this part of Tanzania’
The agriculture value chain
The agriculture and food industry is a priority area for Norfund’s investments in Sub-Saharan Africa. To spread investment risk and contribute to developing the full agricultural value chain, Norfund has decided to include a wider scope of the agriculture value chain in the portfolio.
Our Impact
Norfund’s investment in Vertical Agro contributes to creating local jobs and providing market access to smallholder farmers in East Africa. Through its export earnings and tax payments, Vertical Agro is contributing both to the regional and local economies.
Serengeti Fresh provides increased income for local farmers, and generates jobs in packaging and logistics for more than 100 local people.