Deal #1839 Version #55782

Mngeta Farm

Agrica started this project under the name InfEnergy. public-private partnership with Rufiji basin development authority (TZA); investment through the joint venture company Kilombero plantations LTD. RUBADA’s holding is to be reduced to five percent or less.The plantations are for sale after defaulting on several loans (US$20m loan from the US Overseas Private Investment Corporation (OPIC) and US$5.6m loan from Tanzania’s National Microfinance Bank). KPL has received considerable financial and technical support from various development institutions including the UK Department for International Development (DfID), USAID, Norfund and the Norwegian Development Bank, as well as Capricorn Investment Group of the US. NORFUND owned 26.9% of Agrica. Norfund has now completely exited the company, and will not participate in attempts to establish new operations at the rice plantation.