Mirova Invests $8.5 Million Towards Sustainable Macadamia Farming In Kenya, Tanzania
By Faridat Salifu
In a bid to foster sustainable agricultural practices, French investment firm, Mirova has recently allocated $8.5 million to support Pamoja, a company specializing in macadamia nut production in Kenya and Tanzania.
Pamoja works closely with small-scale farmers to enhance the sustainability of macadamia farming operations.
The investment aims to bolster the sustainable production of macadamia nuts by providing financial support to Pamoja. This partnership underscores a commitment to promoting environmentally friendly farming practices while ensuring economic viability for small-scale farmers.
In Kenya, Pamoja plans to expand its projects in collaboration with over 6,000 small-scale farmers. The company’s subsidiary, TenSenses, operates a macadamia nut processing plant in Nairobi, facilitating export to international markets.
Meanwhile, Macjaro, Pamoja’s subsidiary in Tanzania, focuses on establishing macadamia nut farms that adhere to agroforestry principles.
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With ambitions to manage 6,200 hectares of land sustainably and support 13,000 local producers by 2031, Pamoja’s initiatives could significantly impact the global macadamia market.
These nuts are highly sought after in various industries, including pastries and cosmetics, with the market projected to reach $2.48 billion by 2028.
Guillaume Maillard, founder of Pamoja, emphasizes that the partnership with Mirova will accelerate efforts to promote sustainable land use and empower producers with best practices.
Additionally, the investment will enhance the competitiveness of Kenyan-produced macadamia nuts in the global market.
Mirova’s commitment to macadamia nut production aligns with the Land Degradation Neutrality (LDN) fund, a collaboration with the United Nations Convention to Combat Desertification (UNCCD).
This fund supports projects that contribute to land degradation neutrality, spanning various agricultural sectors across Latin America, Asia, and Africa.
Overall, the investment signifies a strategic move towards sustainable agriculture, leveraging financial resources to drive positive environmental and socio-economic outcomes in Kenya and Tanzania’s macadamia farming sector.
