AgDevCo

SME Assessments
Lusaka Lusaka Province, Zambia

THE CLIENT AND CHALLENGE

AgDevCo is an impact investor with the mission to reduce
poverty and increase food security through a not-for-profit
investment approach. It offers financial products and
investments worth $250K-$4million USD that include patient
capital and social venture capital.

AgDevCo, as an impact investor in the agricultural sector was

struggling to get the market information it required to make
appropriate decisions. The following market research questions
needed to be answered to assist them in their programming:

How much profit can be traded for social impact?

How to identify both a macro- and micro-view of impact
into a measurable framework?
How to effectively fill the gaps where private investors
have zero or little commercial interest to fund?

PROJECT AND IMPACT

AgDevCo approached Agova in 2014 to provide the necessary technical expertise in financial modeling required
to answer the above questions. The Agova consultant supported AgDevCo by:

Developing financial models for different agricultural investments in Zambia and co-developed investment
papers for the investment committees review.
Assisting with donor reporting to DFID (providing impact results and justifying the sustainability of the
investments for AgDevCo).
Conducting market research in local and regional markets, including detailed research in Rwanda and
Burundi.

The key outcomes in terms of the projects impact and Agovas work are the following:

Facilitated over 7.5 million USD in investment capital to support three new SME agribusiness,
Oversaw the greenfield financial investment in remote Northern Zambia for one of the only seed businesses
in Zambia, that subsequently helped to reduce seed imports into the country.

[Agova] has been an integral part of our investment team, by

applying skills in financial modelling and investment development.
[Agova] has led or supported investments in Zambian agricultural
value-chains in excess of USD 5.0m, which has directly impacted on
rural livelihoods and productivity. AgDevCo Zambia

For more information on Agova, contact:

Stephanie Arneson, Agova Business Development Manager
stephaniearneson@ewb.ca