TechInAfrica – Injaro Investments has sold its 30% stake in M&B Seeds and Agricultural Services Ghana Limite to the founder and other shareholders, with undisclosed financial transactions.
Injaro started investing in M&B in May 2011.
This stake sells mark Injaro complete exit from M&B.
Commenting on the investment and exit in M&B, Jerry Parkes, Principal at Injaro Investments said “Agriculture continues to remain the most important sector in West Africa for food security, job creation, and poverty alleviation in rural areas. Injaro maintains that investing along the agricultural value chain, especially supporting the growth of local seed production companies, is critical to improving agricultural productivity in the region.
“The M&B experience demonstrates the power of private equity as a critical catalyst for economic growth in Africa, providing business support and capital to build resilient SMEs. The Injaro team is gratified by the direct link between its work and over 30,000 beneficiaries in Ghana alone. We are also especially grateful to IACHL’s investors who have remained patient and supportive during this long journey with M&B.”
Speaking about this transaction, Ben Kemetse, founder and CEO of M&B said, “I set out 13 years ago to develop a leading hybrid seed production company to boost yields and enhance food security. At the time, I had the technical skills but needed a partner who would support us with all the other essential things a business needs to grow.
“I found such an invaluable partner with Injaro whose investment and value creation support has not only led to the growth of my business but also improved my business acumen to continue running M&B. I am optimistic about the future expansion prospects for M&B. I strongly believe having a long-term patient investor such as Injaro is critical to the growth of small agribusinesses.”