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Africa Food Security Fund – Ghana

The Africa Food Security Fund (AFSF) is an impact investing fund that seeks to invest in small and medium size businesses (SMEs) active along the agricultural value chains across Africa with a focus on Sub-Saharan Africa. The fund’s investment mainly focuses on primary production, agricultural input and service providers, as well as agro- and food- processing companies.

AFSF finished its second closure in 2020. The target capitalisation has been set at USD 100 million and AFSF’s lifetime is set for 10 years. The fund is the follow up fund of the AAF-SME Fund that commenced its operations in 2014 of which CFC invested USD 2 million. Main partners are Zebu Investment Partners (ZIP, previously known as Databank Investment Partners) as AFSF Fund Manager, and CDC, DGGF, EIB, AFDB, BOAD and BIDC as key institutional investors into AFSF.

Submitting Institution

Zebu Investment Partners





Total Cost

USD 100 million

CFC Financing

USD 1,000,000 (Equity)

Year of Implementation