Vertical Agro (Sunripe & Serengeti Fresh)
- Region: Africa
- Country: Regional
- Sector: Food and agribusiness
- Year: 2014
- Domicile: Mauritius
- Instrument: Equity
- Commitment (MNOK) as of 31.12.2016: 44.8
- Original Commitment (MNOK): 38.3
Vertical Agro (Sunripe & Serengeti Fresh) farms fruits and vegetables in Kenya, Tanzania and Ethiopia.
Vertical Agro Limited is one of the oldest horticulture exporters with presence in Kenya, Tanzania and Ethiopia. The three key business areas are: primary production of fruit and vegetables, packaging and marketing.
The main operations are in Tanzania through Serengeti fresh and in Kenya through Sunripe. In Kenya, they are the largest exporter of organic vegetables. Norfund was the first external investor in this local family business and provided a convertible loan facility to allow Vertical Agro expand its product range and improve yields and productivity.
Vertical Agro produces 6500 tonnes of fruits and vegetables annually and is the largest exporter of organic vegetables in Kenya.
Through its wholesale and marketing company in the United Kingdom, Vertical Agro also sells ready-to-eat and ready-to-cook products in several European countries. Norfund's investment in Vertical Agro contributes to creating local employment and providing market access to smallholder farmers in East Africa. Through its export earnings and tax payments, Vertical Agro is contributing both to the regional and local economies.
Below you can see a 3 minutes video about Sunripe (2016).