KIGALI, RWANDA. — AgDevCo has invested $3 million in Minimex Ltd which will allow the maize milling company to increase its capacity and purchases from Rwandan farmers.
Minimex is one of the most technologically advanced mills in the country and has a production capacity of 40,000 tonnes per year. It produces maize flour, grits and bran, which are sold in the East Africa region. A sister company, ProDev Rwanda, produces animal feed. The group has a strong focus on food quality, safety and nutrition.
“This investment will significantly benefit maize farmers, livestock owners, consumers and the Rwandan economy in general by increasing production of fortified maize flour and high-quality animal feeds,” said Felicien Mutalikanwa, chairman of Minimex. “We look forward to building a long-term relationship with AgDevCo, a well-reputed financier in the agri-business sector.”
Minimex was the first company in Rwanda to offer flour fortified with vitamins and micronutrients.
The company’s increased demand for high-quality grain is expected to drive further investment along the value chain in post-harvest handling, storage and logistics.
This investment in Minimex was supported through UK Aid’s IMSAR program, also called Noza Isoko, which is helping improve market systems for agriculture in Rwanda.
AgDevCo is a U.K.-based impact investor specializing in agribusiness investments in Sub-Sahara Africa.
“UK Aid has developed a longstanding partnership with AgDevCo and is pleased to see this third investment in Rwanda, which will spur the local production of nutritious food whilst creating new markets for maize farmers,” said U.K. Minister of State for Africa, Harriett Baldwin, who visited Minimex on April 6. “This investment will help to deliver more opportunities and jobs, which is in all our interests.”