Fanisi Announces Rwanda Investment (Sub-Saharan Africa)

Source: Africa Assets

East Africa-focused private equity and venture capital investor Fanisi Venture Capital Management has invested US$3 million in Rwandan agribusiness company ProDev Group Holdings. ProDev Group Holdings owns two subsidiaries: Mimex, a branded maize meal manufacturer, and ProDev Rwanda, which handles, dries and stores the maize. The financing is intended to help Mimex invest in animal feed production, and to assist ProDev Rwanda in increasing its storage facility from 2,000 tons to 10,000 tons.