Enexus has advised Philafrica Foods, an AFGRI Group’s investment vehicle specialised in food processing in Africa, on the sale of its cassava processing unit in Ivory Coast.
This cassava processing unit aims to produce local starch as an alternative to imported corn starch used in the food industry. Certified ISO 22 000, the plant has a production capacity of nearly 500 tons per month that should meet the growing interest of the food industry for these products.
As part of this sell-side mandate, the transaction ensured a smooth transfer of the asset and supported the continuation of its industrial development.
About Philafrica Foods
Philafrica Foods is an investment company involved in food processing in Africa. Philafrica Foods invests to expand local sourcing and production across the continent by setting up new production sites or partnering with existing companies in Africa. Philafrica Foods belongs to AFGRI Group.