According to DFC:
This project entails a $3.75 million direct loan from DFC to Mvuvi Holdings, the parent company of Chicoa Fish Farm (Chicoa) to expand their annual tilapia production capacity to 4,000 tons and complete a new processing plant and pilot feed mill near its location on the Cahora Bassa Reservoir in Mozambique (the “Project”). Chicoa has seen rapid growth since its founding in 2015, with revenue growing by 84% in 2021 and management projecting over 100% growth for 2022. Complimenting the DFC loan is additional $1.8 million in equity from current investors, led by AquaSpark and Goodwell Investments.
Chicoa exclusively produces tilapia, serving sub-Saharan African markets, of Mozambique, Malawi, Zimbabwe, South Africa and Zambia. Separately, Chicoa has also requested a technical assistance grant from DFC valued at $295,000.
|Private Actor 1
|Private Actor 1 Role
|Private Actor 1 Sector
|Private Actor 2
|Private Actor 2 Role
|Private Actor 2 Sector
|Chicoa Fish Farm
|Chicoa Fish Farm
Project contacts not available at the time of disclosure.
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