Zgamalunga Farms/ Chihetoo Club
Description
Zgamalunga Farms is a farming business that engages in both rain-fed and irrigation agriculture in the following crops: Soya bean, Maize, Watermelon, bananas, groundnuts, and tobacco.
Market Opportunity/ Problem
Malawi currently buys a substantial amount of its fruit needs, especially bananas from outside the country. On the other hand, there is a significant amount of evidence of structured markets for regimes oversees. This provides an excellent opportunity for Malawian businesses to participate in these agriculture-based businesses. Zgamalunga farming has thus far had offtake contracts with Synthesis Agriculture (a locally based off taking company) to supply bananas and watermelons. However, because of limited capital, Zgamalunga farming and its partners in Chihetoo Club have not been able to participate in such opportunities of structured markets meaningfully.
Company Information
Years of operation
7
Type of organization
Partnership
Stage of the business
Growth stage
Agribusiness focus
Primary production
Agriculture value chain(s) focus?
Primary country of operation
Malawi
Other country(ies) of operation
N/A
How many employees does your business have?
15
Does the business have more than 30% women ownership?
Yes
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
Below $250k
What is the split between equity and debt?
30% equity, 70% debt