
Norfund to Invest $307 Million in Electric Vehicle Startups in Kenya
Kenya’s push for green transportation has received a significant boost with a $307 million investment from Norwegian investment fund Norfund.
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AgDevCo has invested $7 million in Planting Naturals, a Sierra Leone-based producer of certified organic palm oil.
The financing is designed to bolster the company’s expansion across its cultivation, milling, and logistical operations.
Planting Naturals, which combines produce from both its own estates and a growing network of smallholder farmers, specializes in generating organic crude palm oil (CPO) and palm kernel oil for export markets.
The new capital will support a broad range of enhancements, from increasing harvested fruit volumes and processing throughput to improving the logistical chain.
Accompanying the investment, AgDevCo will also supply technical assistance aimed at enhancing farmer support initiatives, particularly those focused on digital tools and supply-chain traceability.
Kweku Koranteng, AgDevCo’s West Africa regional director, emphasized that the investment embodies the firm’s long-term approach to building resilient agricultural supply chains.
“We are delivering patient, flexible capital that links rural communities to growing demand for sustainably produced palm oil—generating jobs and inclusive economic growth along the way,” he said.
Jan Hein De Vroe, Chief Executive of Planting Naturals, welcomed the partnership, calling AgDevCo a “long-term ally” in the company’s ambition to modernize Sierra Leone’s palm oil sector.
He stated that the funding will fuel expansion, deepen ties with thousands of smallholder producers, and elevate Sierra Leone’s standing as a hub for traceable, certified organic palm oil.
“Our collaboration demonstrates how palm oil production can deliver shared value—boosting farmer income, empowering rural communities, and upholding environmental integrity,” De Vroe added.
Kenya’s push for green transportation has received a significant boost with a $307 million investment from Norwegian investment fund Norfund.
Tunisian team collaboration startup Cynoia has announced a significant funding milestone, securing $930,000 to fuel its expansion into the West African Economic and Monetary Union (UEMOA), focusing on Senegal and Ivory Coast.
Roboost, a pioneering AI-powered logistics startup, has secured a $3 million investment round.