Jacoma Estates Limited was founded in 2007 by a group of private investors. In 2008, Jacoma’s Malawian subsidiary, Tropha Estates Limited was incorporated and started operations. In 2014, the Company, realising the need for irrigation, partnered with Pearl Capital Partners, through the African Agriculture Capital Fund, and AgDevCo, through its Malawian operation, to invest in irrigation and accelerate the development of the Company and its social impact through the farming networks it had developed.
In 2017 the business undertook a second funding round which saw British International Investment (BII) invest $8m alongside a further $3.5m from AgDevCo and $0.5m from AACF. The new funding assisted Jacoma to expand its production base and further support small holder farmers through building stronger market links. This was followed up by an investment from Old Mutual in 2020.
AgDevCo is a social impact investor and project developer operating exclusively in the agriculture sector in Africa. Our mission – to reduce poverty and improve food security – is underpinned by our belief that the best route out of poverty for the majority of Africa’s rural poor is the development of profitable agriculture with strong links to markets.
We invest in socially-responsible businesses, operating across the supply chain, which have the potential to make a major positive social impact in their communities. In addition to direct investment, we provide on-the-ground technical support and specialist agricultural advice to management teams.
British International Investment (BII) was formerly known as CDC and is the world’s first development finance institution with 75 years’ experience as an impact investor in emerging economies. Its mission is to invest in businesses in Africa and South Asia to help them grow and create the jobs that will make a lasting difference to people’s lives. To do this, BII prioritises investing in sectors where growth leads to jobs, either directly or indirectly in the wider economy. These sectors are food and agriculture, manufacturing, infrastructure, health, education, financial institutions and construction.