Maris Africa boosts horticulture, forestry ventures in EA with Proparco backing

EAST AFRICA – Maris Africa, an investment holding company active in sub-Saharan Africa, is set to grow its horticulture and forestry endeavors in East Africa with support from Proparco.

The company will channel this backing towards enhancing the growth and development of its agricultural subsidiaries, Evergreen Foods and Equatoria Teak Company, situated in Kenya and South Sudan, respectively.

On April 5, 2024, Maris Africa inked a EUR 490,000 (USD 530,509) technical assistance agreement with Proparco, a significant step forward in its strategic expansion plans.

This funding infusion is poised to propel the activities of Agris, Maris Africa’s agricultural investment arm, within the East African region, specifically focusing on Kenya and South Sudan.

In Kenya, Agris has established Evergreen Foods, its horticultural entity, while in South Sudan, it operates Equatoria Teak Company, dedicated to forestry endeavors.

The allocated financial support will enable Evergreen Foods to fortify its fruit and vegetable cultivation while expanding its local distribution networks.

Similarly, Equatoria Teak Company will leverage the funding to enhance its teak production and marketing operations.

Tryon Maris, the Managing Director of Maris Africa, expressed enthusiasm about the prospects the partnership with Proparco offers.

He emphasized, “This facility will fund projects that will allow us to grow our businesses in East Africa, building internal capacity, developing talent, and better measuring our social impact through training opportunities and greater inclusion of women in our workforce.”

This agreement marks the third collaborative effort between Maris Africa and Proparco, underscoring their commitment to fostering sustainable economic development in the region.

Notably, Maris Africa, with operations spanning across nine countries in sub-Saharan Africa, previously received a substantial USD 12 million investment from Proparco in June 2022.

This investment was directed towards supporting Maris Africa’s ventures in the energy, agriculture, and business services sectors across Africa.

The partnership between Maris Africa and Proparco traces back to 2010 when Maris Africa secured its inaugural investment from the financial institution.

Over the years, this collaboration has been instrumental in driving growth and facilitating impactful initiatives aimed at enhancing agricultural productivity and economic prosperity in the region.

As Maris Africa continues its trajectory of expansion and impact-driven investments, the collaboration with Proparco reaffirms its commitment to fostering sustainable development and driving positive change across East Africa’s agricultural landscape.

With a focus on capacity building, talent development, and social inclusion, Maris Africa is poised to contribute significantly to the region’s socio-economic advancement, laying the groundwork for a more prosperous future.

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