Imara Private Equity has, over the last twelve months, sourced, structured and invested approximately $4.5m, on behalf of a European Family Office client, into Zambezi Berry Company (ZBC). 

The transaction was originated through Imara’s on the ground footprint (six offices in Africa).

Llocated in Chisamba, 20km North of Lusaka, Zambia, ZBC is a joint venture between Zambezi Ranching Cropping, one of the largest agribusinesses in Zambia and the United Exports Group, which manage and commercialise the OZblu varieties globally. 

ZBC plans to expand up to 500 HAs and be of the single largest standalone blueberry orchards in Southern Africa.

Hector Fleming, Joint CEO of Imara and Head of the Private Equity, said: “We are delighted to announce the investment in ZBC, and the commissioning of our first 50 HAs which represents the confidence we have in Zambia and the excellent team behind the business led by Graham Rae.”

“The investment is in line with the Zambian government’s initiative to promote exports and will go a long way in creating jobs downstream and improving the depth of skills.” 

“United Exports and OZblu breeding program is widely regarded as the leading global breeding programs of blueberries and we are pleased to partner with them on this project.”

Graham Rae, Director of ZBC, added: “ZBC is an important diversification for ZRC and is the beginning of a project with potentially 500 HAs of Blueberry orchards. Zambia is extremely well placed to supply for export into the Northern hemisphere during the August to November window.” 

“ZRC has access to the land, water and experienced management team that can execute on this project. With United Exports we have a partner with the leading genetics and imbedded relationships with retailers across the world. We also looking into the potential opportunity to export to China and build on the Zambian-Chinese relationship.”

Imara Private Equity is represented by ICP Managers, registered in Mauritius and regulated by the Financial Services Commission of
Mauritius.

The division focuses on sourcing, executing and managing mid-market private equity and debt transactions across sub-Saharan Africa.