Ethiopia

Ethiopia's location gives it strategic dominance as a jumping off point in the Horn of Africa, close to the Middle East and its markets.

Cliffe Dekker Hofmeyr (Kenya) represented Creadev International, the leading France-based private equity firm; and ARAF, a Kenya-based venture capital fund designed to enhance the livelihood and climate resilience of people in Africa. Our Kenya-based corporate/M&A team advised Creadev International and ARAF on their investment in Victory Farms, East Africa's fastest growing aquaculture venture. Creadev International led the US$35 million Series B raise and was joined by ARAF, DOB Equity, Endeavour Catalyst Fund and Hesabu Capital. The East Africa fish supply deficit is estimated at circa 1 million metric tons per annum. Aquaculture supplies only meet three per cent of this deficit. This transaction is particularly significant as it will enable Victory Farms to expand its operations in Kenya, Rwanda, Ethiopia, Uganda and Tanzania, and provide a solution to East Africa's nutritional security challenge.

Cliffe Dekker Hofmeyr (Kenya) represented Creadev International S.A.S, a French private equity firm based in France, and Acumen Resilient Agriculture Fund LP (ARAF), a VC fund designed to enhance the livelihood and climate resilience of people in Africa, in their investment into Victory Farms, East Africa's fastest growing aquaculture venture. Creadev led the US$ 35 million dollar Series B raise and was joined by ARAF, DOB Equity, Endeavour Catalyst Fund and Hesabu Capital. Our role involved conducting legal due diligence on the target and its subsidiaries in Kenya and Rwanda, assisting in reviewing and negotiating the share subscription agreement for purposes of recommending representations, warranties and conditions, assisting in reviewing and negotiating the disclosure letter and assisting in pre-closing actions.

From vision to fruition.