Associated Foods Zimbabwe (Pvt) Ltd

  • Region: Africa
  • Country: Zimbabwe
  • Sector: Manufacturing
  • Year: 2016
  • Domicile: Zimbabwe
  • Instrument: Loan
  • Commitment (MNOK) as of 31.3.2017: 17.2
  • Original Commitment (MNOK): 17.0

Associated Foods Zimbabwe (AFZ) is a fully indigenised entity. AFZ was established on 1 January 2016 as a result of a merger between Honeywood Enterprises (Pvt) Ltd, Zimbabwe’s leading producer of jams, mainly under the “Farm Gold” brand, and Spread Valley (Pvt) Ltd, Zimbabwe’s leading producer of peanut butter, mainly under the “Mama’s” brand. Production will be consolidated at AFZ’s Vumba factory.

This investment will amongst others contribute to supporting the local food processing sector in Zimbabwe by replacing imports with local produce. One of the strategies of doing so is by expanding on AFZ’s local raw material sourcing via out-grower schemes. This will result in increased employment throughout the agribusiness value chain in Zimbabwe - from small holder farmers to the consumer.

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo