AATIF provides a senior loan of USD 4m to Seba Foods Zambia Limited (260 Brands), an African consumer goods manufacturer based in Zambia.
PRESS RELEASE
On 21 May 2021, Seba Foods Zambia Limited (260 Brands) made the first withdrawal of a USD 4m senior secured CMA facility from AATIF to facilitate the purchase of maize and soybeans from local smallholder farmers in Zambia.
Seba Foods is a family-run business founded in 1997 as a subsidiary of Two Six Zero Brands Africa. The company’s activities to date 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.
The company’s impact lies in their ability to be integrated from farm to fork – working with farmers at the start of the value chain and then further processing, packaging and marketing the final produce themselves. Through this unique position the company is able to positively impact various parts of the value chain. In partnership with local NGOs, 260 Brands has been able to engage with a group of 1,008 farmers, supporting them with agricultural training, access to inputs, transport and most importantly a stable off-take market. Further the final products of the company include affordable and nutritious snacks and drinks which are accessible by the same smallholder farmers. Many products are fortified, and others provide soy as a high protein alternative to meat which is often expensive.
The facility provided by AATIF will allow 260 Brands to now maximize the output of a recently installed plant. Structured as a 12-month CMA facility it enables the company to purchase maize and soybeans in the local market during the most optimal time for further processing at its own facilities.
“The investment in 260 Brands represents AATIF’s continued commitment towards establishing local value chains. The company’s dedication to sourcing produce from local farmers is truly commendable. By ensuring the final product is also accessible to these very farmers, 260 Brands plays its part in promoting local food security, further aligning with AATIF's overall goal”
“We are pleased and humbled with AATIF’s support and investment, which believes in our vision that allows us to offer reasonably priced and nutritious consumer products to Africa’s people, and at the same time, create a socially conscious business that would contribute to ending all forms of malnutrition and support sustainable agriculture.”
About 260 Brands
260 Brands is an African consumer goods manufacturer based in Zambia, Southern Africa. Our brand represents the vibrancy of Africa, spirit of freedom and innovation. We manufacture, market and distribute high-quality consumer products that are inspired by local tastes and made from locally sourced ingredients which enable Africa’s people to taste the good life. For more information, visit www.260brands.com
The Africa Agriculture and Trade Investment Fund (AATIF)
AATIF is a public private partnership dedicated to promoting the food / agri sector across Africa by providing patient capital and technical assistance. The fund provides debt financing to small, medium and large-scale agribusinesses along the entire agriculture value chain as well as financial institutions active in the sector. Ticket sizes range from USD 3.5m up to USD 30m per project with a possible maximum tenor of 12 years.