Transaction Summary
AgDevCo Limited (AgDevCo) has sold its entire equity stake in Saise Farming Enterprises Limited (SFEL) to Buya Bamba Limited (Buya Bamba), Zambia’s largest potato trader. Established in 2016 through a $5.3 million greenfield investment, SFEL was a joint venture between AgDevCo, Buya Bamba, and the farm’s managing partners, focused on producing high-quality seed potatoes suited to Zambia’s climate. Located in Mbala, Northern Zambia, the farm has developed 285 hectares under irrigation. Buya Bamba, founded in 1999, specialises in producing, marketing, storing, and distributing high-quality potatoes. As a long-time partner and distributor of SFEL’s seed potatoes, Buya Bamba was well-positioned to take full ownership of the farm.
Terms
- Buyer: Buya Bamba Limited
- Seller: AgDevCo Ltd
- Target: Saise Farming Enterprises Ltd.
- Financing Type: Equity
- Exit Strategy: Trade Sale
- Full or Partial Exit: Full
- Holding Period: 9 years (2016-2025)
- Financing Instrument: Ordinary Shares
Transaction Rationale
AgDevCo’s exit from SFEL aligns with its strategy of supporting early-stage
