april 4, 2017
7:52 f m
Norfund invests in a beef exporter in Ethiopia
Norfund has made a USD 7.4 million investment in Verde Beef Processing PLC, an Ethiopian beef producer.
Verde Beef Processing PLC produces premium beef and aims to become the largest cattle processing operation in Eastern Africa with a target output of more than 130,000 carcasses per year.
The capital provided by Norfund will help the company achieve this goal by enabling the construction of a state of the art abattoir and meat processing facility – currently underway – and also to fund working capital for the business. Down load the press release here.