Injaro Strikes An Exit From Ghana’s Maize Seed Producer M&B

The impact investment fund managed by Injaro Investments, Injaro Agricultural Capital Holdings Limited (IACHL), has sold its 30% stake in seed producer M&B Seeds and Agricultural Services Ghana Limited (M&B) to the founder and other shareholders. After a ten-year holding period, this share transaction reflects a complete exit from M&B. The financial details of the transaction were not disclosed.

Injaro invested in M&B in May of 2011. The company aimed to increase processing capacity, increase seed yield by extending its farm and implementing an outgrower scheme, boost marketing, and strengthen middle management with the investment.

M&B is one of six companies that the fund had backed in its active investment years spanning 2010-2018 in Ghana. Cashew nut processor Kona Agro Processing, chicken feed producer Agricare, pineapple producer Gold Coast Fruits, and maize producer Sahel are among the other portfolio companies in the country.  It has also invested in Sekaf, which produces cashew nuts, shea nuts, sesame seed and soya beans, and beauty care products for women.