Type of investment: Maize and soybean farm
Use of Proceeds: Maximize output of new plant, purchase crops from local market
Financial close: 18th May 2021
Tenor: 12 months
Type of Investment: Senior Secured CMA Facility
S&E Category: B
On 21 May 2021, Seba Foods Zambia Limited (260 Brands) made the first withdrawal of a USD 4m senior secured CMA facility from AATIF.
Seba Foods is a family-run business founded in 1997 as a subsidiary of Two Six Zero Brands Africa. The company’s activities include purchasing, processing, packaging and shipping of maize and soya products for human consumption, with about 5% into animal feed products. Their key products include textured soy as a meat alternative, powdered/instant drinks, corn soya blend (porridge), as well as snacks, where the company is among the top market leaders in Zambia.
AATIF’s financing will help the company continue to integrate at various parts of the value chain, allowing them to work with local farmers on the ground, sourcing maize and soybean directly from them for further processing and packaging, before marketing the final produce themselves.
The facility provided by AATIF will allow 260 Brands to maximize the output of a recently installed plant, enabling the company to purchase maize and soybeans in the local market for further processing at its own facilities. The company also aims to impact African farmers by engaging 1,000 smallholders, providing dedicated training to produce organic soya, for which Seba will provide inputs, training, guidance on organic certification for the grower group and guarantee the off-take at a premium price for organic certified soya.
OUTREACH TO AGRICULTURAL PRODUCERS
Number of smallholders sourced from per annum
Number of employees
(57 permanent, 83 seasonal)
(225 permanent, 195 seasonal)
- Figures are based on latest available self-reported data by investees and data collected by AATIF’s collaboration partners
- Figures are subject to change as and when additional information becomes available
- Figures reported here are not replacing rapid appraisals / impact evaluations that are done in addition
TECHNICAL ASSISTANCE FACILITY
The TA Facility has supported Seba Foods through the implementation of two TA Facility projects in total since 2021, this includes one rapid appraisal study to assess the impact of the AATIF investment (the study results are included in the IMPACT Brief, which is currently under preparation and expected to be published here soon).
TA Facility Projects
Market analysis and brand strategy for new product development
Rapid appraisal study of AATIF investment in Seba Foods