Closing of USD 15m Term Loan with Tanzania Miller Amsons
Samawati Capital Partners supported in the closing of a USD 15m term loan to fund the expansion and working capital demands of a Tanzania milling business through the Africa Agriculture and Trade Investment Fund.
The milling business is affiliated with other local businesses operating across various sectors in Tanzania and has in recent years expanded its operations to include food processing. It has an existing mill that has been operating at capacity, processing 150MT/day of wheat for local market consumption. This has necessitated increasing its milling capacity to 500MT/day by adding a second mill, therewith enhancing its operations to meet the growing market demand for wheat-based products in the region.
The investment supports local value addition and import substitution as the company has ongoing initiatives to improve the standards of wheat crop grown locally, hence increasing its sourcing from local farmers.