InfraCo Africa invests $5.4 million in food refrigeration in Sub-Saharan Africa.
Posted on : Friday, 12th January 2024
British Enterprise Projects Ventures Limited (EPV), a provider of food refrigeration solutions, has received a €5 million (US$5.4 million) finance commitment from InfraCo Africa, a member of the Private Infrastructure Development Group (PIDG).
The strategic investment will help EPV execute its ground-breaking "InspiraFarms Cooling" service in four sub-Saharan African countries: Kenya, Zambia, Zimbabwe, and Ghana. The service will concentrate on pre-cooling and refrigeration of food chain technology for horticulture and animal goods.
During its trial phase, InspiraFarms Cooling will offer cold storage facilities specifically made for flowers, fruits, vegetables, meat and dairy goods.
Up to 25% less energy may be used in these warehouses if they are fuelled by other kinds of energy or the electrical grid.
The InfraFarms Refrigeration service, which addresses the crucial problem of post-harvest losses in the agri-food sector, will be installed at least five times thanks to an investment from InfraCo Africa.
This collaboration is in line with the urgent need to improve cold chain infrastructure in Africa, where losses after harvesting can reach 30% to 40%, which is significantly higher than the average of 14% worldwide, according to the Food and Agriculture Organisation (FAO).
InfraCo Africa's new business development manager, Omar Jabri, stressed how important it is to give farmers access to refrigeration facilities.
As a result of the investment, it is anticipated that post-harvest losses will have a less negative economic and environmental impact, generate job opportunities throughout the supply chain and raise the standards of excellence required for shipping to foreign markets.
The fact that InfraCo Africa has pledged to fund a minimum of five installations of the InspiraFarms Cooling service shows how committed the organisation is to mitigating post-harvest losses and promoting environmentally friendly farming in the area.
This investment is being made at a time when campaigns to upgrade Africa's refrigeration system are gathering steam.
The construction of a cutting-edge temperature-controlled cold storage facility in Kenya is the subject of a significant $70 million investment announced formerly this year by Cold Solutions Limited.
The facility, which is located in the Tatu City Special Economic Zone, is expected to grow to be the biggest and most sophisticated in the area, enhancing cold chain efficiency and reducing post-harvest losses.
Investments like InfraCo Africa help the sub-region's agricultural development, cut down on food waste and fortify its position in the global market as it strives to improve its cold chain capabilities.
