Proparco, Si Advisers LLP ('Si') and IFU have signed an agreement to provide growth capital to Global Tea & Commodities (‘Global Tea’), a tea, coffee, and macadamia business with operations in Kenya and Malawi.

FMO and Proparco announced today the launch of a EUR 80mln syndicated facility to support Kılıç Deniz, Turkey’s leading aquaculture player, which is growing and producing sustainably certified fish. The syndication is led by FMO, the Dutch development bank, which is committing EUR 65mln, with participation from Proparco, France’s development finance institution, committing EUR 15mln. The syndicated facility will be used to support Kılıç Deniz’s ongoing business expansion across Turkey, further promote the company’s sustainable production of sea bass, sea bream, and rainbow trout, while also optimize its balance sheet.

Agriculture is a key sector for social and human development in Zimbabwe and Zambia. It employs 65% and 75% of the population, respectively, and accounts for 15% and 19% of GDP. The sector is a pillar of a once prosperous economy in Zimbabwe, but its yields and production have been reduced since the early 2000s.