Phatisa Food Fund 3 (IFC-51517)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 29, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Phatisa Food Fund 3
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 4, 2026

Disclosed by Bank Dec 16, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed investment is for up to US$15 million in Phatisa Food Fund III, not to exceed 20% of total committed capital, with a co-investment envelope of up to US$10 million. Phatisa III is a food and consumer value chain-focused, mid-market growth private equity fund targeting a total fund size of US$300 million.

The Fund is expected to increase access to PE capital and value-creation for agri- and food-focused businesses in Africa, including companies that are female-owned/led . The Fund will build on its track record and create value for its portfolio companies increasing access to productive farm inputs for farmers and subsequently improving yields in agriculture, enhance access to food and reduce food waste in Sub-Saharan Africa. In addition to being direct food sources, the use of such crops as animal feed will promote increased food security across the region. Beyond the project, the Fund’s success will also showcase the viability of new thematic areas as avenues for international investors to re-engage with the African PE market. This will in turn encourage other fund managers in the region to raise new or follow-on funds of greater scale and catalyze new PE activity across the region.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environmental Category: FI-2 - Limited

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Fund’s target size is US$300 million, out of which IFC’s proposed investment is US$15 million, not to exceed 20% of total committed capital, with a co-investment envelope of US$10 million.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The Fund is managed by Phatisa Fund Managers 3 Limited. Phatisa was founded by Stuart Bradley in 2005. The Fund Manager is wholly owned by Phatisa Group Limited, and the shareholding of Phatisa Group Limited includes Stuart Bradley (20%), Martin Kromat (15%), and Eugene Stals (15%).  


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Phatisa Group Limited
Stuart Bradley
Managing Partner
+27 114631920
stuartbradley@phatisa.com
First Floor, Rosewood House, Ballywoods Office Park, 33 Ballyclare Drive, Bryanston, 2191, Johannesburg, South Africa
Websitehttps://www.phatisa.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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