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Sahel Capital, an investment company with a focus on agriculture and food sectors in sub-Saharan Africa, has finalized a $1 million loan agreement with Camino Ruiz, a Kenyan company that specializes in fish processing and distribution.
According to Sahel Capital, $800,000 of the loan will be used to fund capital projects, while $200,000 has been allocated to support working capital needs.
The financing comes from Sahel’s Social Enterprise Fund for Agriculture in Africa (SEFAA).
Founded in 2008 by Joseph Mureithi, Camino Ruiz supplies affordable fish products to Kenya’s retail market.
The company operates a processing plant in Nairobi, where it handles the filleting, freezing, and pre-cooking of tilapia fish.
It sources its fish from over 4,000 smallholder farmers located around Lake Victoria, as well as from its sister company, Global Tilapia Husbandry.
Zakayo Ngetich, Sahel Capital’s Vice President for East and Southern Africa, highlighted that this is SEFAA’s first investment in aquaculture.
He added that Camino Ruiz is well-positioned in the growing fish industry, noting its strong presence across 180 supermarkets, 25 branded retail locations, and a digital sales platform.
The loan is expected to strengthen Camino Ruiz’s production and distribution capacity as it works toward becoming a leading brand for fish products in Kenya.
P1 Ventures, a seed-stage venture capital firm focused on Africa, has secured $35 million in its second fund, bringing it closer to its $50 million target.
The International Finance Corporation (IFC) is considering an equity commitment of up to $6 million to Catalyst Fund, a climate-technology venture vehicle targeting $40 million for early-stage investments across Africa.
ORA Technologies, a Moroccan super-app, has raised $1 million in pre-seed funding from local private investors.
