Closing of USD 4m senior secured CMA facility with Seba Foods Zambia

Samawati Capital supported in the closing of a USD 4m senior secured CMA facility for the purchase of maize and soybeans from local smallholder farmers in Zambia through the Africa Agriculture and Trade Investment Fund

Seba Foods is a family-run business founded in 1997 as a subsidiary of Two Six Zero Brands Africa. The company’s activities to date include purchasing, processing, packaging and shipping of maize and soya products for human consumption, with about 5% into animal feed products. Their key products include textured soy as a meat alternative, powdered/instant drinks, corn soya blend (porridge), as well as snacks, where the company is among the top market leaders in Zambia.

The USD 4m facility provided by AATIF will allow 260 Brands to now maximize the output of a recently installed plant. Structured as a 12-month CMA facility, it enables the company to purchase maize and soybeans in the local market during the most optimal time for further processing at its own facilities.