Moringa Fund invests $5m in B-BOVID Limited
The Moringa Fund, an equity financing investment company, has invested 5 million dollars into B-BOVID to enhance and strengthen the company’s unique out grower plan poly culture model.
The investment would also see to the recruitment of up to 4000 farmers within the western and central regions, engage in tree maintenance and preservation as well as support the modernization of the manufacturing unit, expand production capacity in order to meet growing local and regional demand and improve livelihood of out growers.
The Moringa Fund also provides for sustainable agro forestry projects in sub Saharan Africa and Latin America.
Agro forestry combines tree planting with agricultural crops to create positive synergies in economic, environmental and social terms.
Mr Issah Ouedraogo, the Executive Director of B-BOVID, during a press conference to announce the partnership and investment by Moringa, said “the agreement with Moringa is a recognition by the International investor community of B-BOVID’s credibility and viability as an enterprise.”
We are poised as a company to provide sustainable solutions to deforestation, unemployment and poverty eradication from our operational communities, region and country as a whole.
Mr Ouedraogo said the B-BOVID was committed to transforming the face of agribusiness in Ghana and called on state actors to make the agricultural sector more attractive particularly for the youth.
The B-BOVID, established in 2004, has a 110 hectare demonstration plantation showcasing oil palm agro-forestry practices with an impressive training structure to promote best agro-forestry practices.
We have to create sound management practices toward revenue diversification, social inclusion and low environmental impacts especially with our trainings on climate change, he said.
Mr Adrien Henry, Investment Director of Moringa, said the cooperation with Moringa and B-BOVID was their first investment in Ghana… “It reinforces our presence in West Africa as well”.
He said Moringa would build on the human resources of the company and increase its overall efficiency whilst consolidating its position as a leading centre of agro forestry and livelihood enhancement activities in Ghana and beyond.
Source: GNA