Tech in Africa
Yield Fund and FCA Investments have announced an undisclosed co-investment into Uganda meat processor Sausage King. The new addition is the eleventh investment of the Yield Fund into Uganda’s agriculture sector.
Sausage King is specialized in value-addition and the processing of poultry, beef, and pork transforming them into premium meat products. Among the products by the company are Sausage rolls, cold cuts, and specialty cuts. The new investment will go towards procuring and commissioning two production lines, in addition to upgrading the company to meet globally accepted manufacturing standards.
In tandem with the investment by the Yield Fund, Sausage King has further obtained Business Development Support and a matching grant facility of USD 212,500 from the EU to be managed by the International Fund for Agricultural Development (IFAD). This will be channeled towards enhancing the technical and governance facets of the business while supporting the company to develop a robust commercial strategy enabling Sausage King to better position itself competitively in the market.
FCAI is an impact investor fixated on developing countries and fragile states while the Yield Fund is an agribusiness impact fund set by the EU through IFAD, NSSF, and with follow-on investments from OSF and FCA Investments in June 2019.
