Invest International, the Dutch development finance institution, has extended a loan of €15 million (US$16.2 million) to Namibia Berries to support the expansion of its blueberry farm along the Kavango River in north-eastern Namibia.
Namibia Berries exported its first harvest last year to markets including Southeast Asia, the Middle East, Germany, and the Netherlands. Over time, a large share of its exports is expected to move through the Port of Rotterdam, with 32% of the project's procurement sourced from Dutch suppliers.
The financing was arranged with the support of Loxworth Capital, a Netherlands-based strategic investment company and major shareholder in Namibia Berries. Gemüsering Stuttgart GmbH, a long-standing strategic partner of the company, is also part of the project.
"This partnership with Invest International enables us to build a resilient, world-class blueberry operation that benefits local communities through job creation and skills development, while helping to build a stronger agricultural sector in Namibia," says Michael Rodenburg, CEO of Namibia Berries and founder of Loxworth Capital.
Source: Africa Private Equity News
