AgDevCo

About AgDevCo

Established in 2009, AgDevCo is a specialist impact investor in African agriculture with more than 15 years’ experience in making direct investments. The firm targets agri-based businesses that have scalable operating models, strong management teams, and the capacity to generate positive social, climate and development impact.

Since inception, AgDevCo has invested in some of Africa’s most impactful agribusinesses, ranging from Victory Farms (aquaculture) and Hatch Africa (poultry) to Jacoma (macadamia and chillies) and Equity for Africa (equipment leasing).

As at 31^st December 2025, AgDevCo had $368m funds under management with investments in 12 counties across sub-Saharan Africa. This has led to 155,000 tonnes of locally produced food and over 38,000 jobs sustained.

AgDevCo has historically been well supported by both domestic and international funders and strategic partners. These include the UK’s Foreign, Commonwealth & Development Office (FCDO), British International Investment (BII), Norfund, Swedfund and the U.S. International Development Finance Corporation (DFC).

The impact

S&P Global Ratings assigned AgDevCo an A- issuer credit rating with a stable outlook. The A- rating reflects AgDevCo’s strong capitalisation and liquidity, its experienced management team, improving asset quality, and high governance standards – as well as the supportive role of its shareholders, BII, Norfund and Swedfund, three of the world’s leading development finance institutions.

An investment grade credit rating is a transformative tool for a blended finance vehicle. It enables AgDevCo to access capital from a much wider range of institutional investors – including pension funds and insurance companies – and to channel that capital into African agricultural businesses where the development impact is greatest.

Following the credit rating, Allia C&C advised AgDevCo on the arrangement of a new $10m senior loan with Ceniarth, an impact-first investor, on incredibly attractive rates and a flexible drawdown period. The support of Ceniarth provides AgDevCo with additional capital to utilise to provide impact across Africa’s agricultural sector.

Ceniarth is an impact-first, single-family office that focuses on investments benefitting underserved communities globally. They invest with non-profits, for-profits, and hybrid organisations with an emphasis on sectors such as agriculture, affordable housing, financial inclusion, and climate justice. Ceniarth have an aligned mission to AgDevCo and are a fantastic supporter to have on board.

Ben Hall, CEO of Allia C&C said: “Allia C&C were delighted to build on our relationship with AgDevCo. It involved us obtaining an A- credit rating from S&P and supporting AgDevCo on raising additional funding with an impact-focused family office. The new Ceniarth facility provides AgDevCo with flexible low-cost debt to support their future growth.”