Tana Africa Capital to Invest USD20 Million in Palmagri Red Fruits Business
Posted On: 29 Sep 2019 | Source(s): Africa Capital Digest
Africa-focused evergreen investment company Tana Africa Capital has agreed to invest MAD200 million (approximately USD20 million) in the red fruits subsidiary of Palmagri, the agricultural division of Morocco-based conglomerate Palmeraie Holdings Group. Through the transaction, Tana Africa will secure a minority stake in Palmagri’s subsidiary and nominate a director to its board. The business will use the new partnership with Tana Africa to expand its raspberry and blueberry production and distribution operations.