The proposed investment consists of a preferred equity investment of US$6 million in africaJUICE B.V. (“aJ BV”). aJ BV was established in 2007 as a holding company which owns an 81% stake in africaJUICE Tibila Share Company (“aJ TSC”), the first Faitrtrade certified tropical fruit juice producer (mainly passion fruit, mango and papaya) in sub-Saharan Africa and based in the Upper Awash region of Ethiopia.

The proposed financing package will be supported by the Private Sector Window of the Global Agriculture and Food Security Program (“GAFSP”).

GAFSP funding plays a catalytic role to create opportunity to support innovative private sector investments and deliver a level of additionality and impact beyond what is possible through IFC’s regular operations.

aJ TSC owns a 1,600 hectare farm as well as a EU compliant multi-fruit processing facility built in 2010. Over 1,400 tonnes of juice products have been exported to date, mostly to Europe. aJ TSC is seeking to transition into its next stage of growth by adding production volumes and product diversity. The plan is focused on realizing the passion fruit potential of its existing farm and its outgrowers and on diversifying its product base with the development of three new strategic crops (pomegranate, acerola and lemon) as well as expanding its processing capacity. The outgrower program will be expanded to incorporate 1,000-2,000 ha of smallholder passion fruit farmers.