DOB Equity expands agri portfolio into high growth organic and fair-trade food trend
Press release – November 21 2018
Investment into Ten Senses Africa – a leading organic and fair-trade macadamia processing company in Kenya
Strong social and environmental impact through extensive farmer support along value chain and zero-waste processing
DOB Equity, a leading Dutch family-backed impact investor in East Africa, has invested in Ten Senses Africa to help it capitalize on the fast-growing demand for ‘health conscious’ nut products.
Ten Senses Africa Limited is an organic and fair-trade certified macadamia producer, processing and trading company. With strong ties to farmers and buyers, it is well positioned to fulfill the growing demand for macadamia worldwide. The investment will allow Ten Senses to expand its processing capacity to trade larger volumes at higher margins, launch new products and further develop its sales across Europe and the United States.
Ten Senses sources nuts from over 3.000 farmers mostly located on Kenya’s coast, whilst operating processing facilities in Nairobi.
Demand for organic, traceable and fair-trade tree nuts and nut based products of African origin is on the rise both globally and locally, with health-conscious consumers driving up demand, which are often claimed to be ‘superfoods.’ Ten Senses will diversify its product base, with more nuts and including dried fruits, using existing sourcing infrastructure and markets.
DOB Equity adds that Ten Senses has a significant social impact. It provides small-holder coastal farmers with consistent offtake, access to inputs, seedlings and training to increase output per farmer, whilst producing nutritious and healthy products for consumers.
Brigit van Dijk – van de Reijt, CEO of DOB Equity, says: “We expect the growing global demand for health-conscious and natural, organic products to continue over the long-term. As one of the largest certified organic producers in Kenya, Ten Senses is well-positioned to benefit from these trends.”
Saskia van der Mast, Investment Manager of DOB Equity, comments: “Apart from the instantly strong partnership we felt with the management based on its values to grow Ten Senses, we were equally attracted by the social as well as environmental impact of the sector. Macadamia processing is zero-waste, its shells are used as fuel, the cracked nuts are being sold and those rejected are being used for high value macadamia oil.”
Frank Omondi, CEO of TSA, comments: “We are very pleased and looking forward to working with DOB Equity on the expansion of Ten Senses.”
“We have an ambitious growth trajectory and to unlock the full potential throughout the value chain, we need a local partner like DOB Equity that understands what it takes to secure sourcing, improve the process and enter new markets.”
ENDS
About DOB Equity
DOB Equity is a Dutch, family-backed impact investment firm that invests in impactful and innovative businesses in East Africa, with offices in Nairobi, Dar es Salaam and in the Netherlands. DOB Equity invests equity and offers tailored financing, access to international networks and technical assistance to meet the needs of the business. With a portfolio of fast-growing companies in the East African energy, agriculture, education, retail and distribution sectors, DOB Equity is determined to further expand its presence and impact in the region.
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Janny Fidder
DOB Equity
Tel: +31 (0)578631111