Yield Fund and FCA Investments announced an undisclosed joint investment in Uganda’s meat processor Sausage King. This is the 11th investment by the Yield Fund in Uganda’s agricultural sector.
Sausage King specializes in the value-addition of chicken, beef, and pork, transforming them into premium meats. The company also offers specialty cuts and cold cuts. The company will use the new investment to purchase and commission two production lines as well as to upgrade its manufacturing processes to comply with international standards.
Along with the Yield Fund investment, Sausage King also received Business Development Support and a matching grant facility for USD 212,500 from EU. This will be managed by International Fund for Agricultural Development. These funds will be used to improve the technical and governance aspects of the business, as well as to support the development of a strong commercial strategy that allows Sausage King to compete in the market.
FCAI is an impact investor that focuses on fragile countries and developing countries. The Yield Fund, however, is an agribusiness-impact fund established by the EU through IFAD and NSSF. Follow-on investments from OSF Investments and FCA Investments were made in June 2019.