The Agri-Business Capital Fund (ABC Fund) has announced a €800,000 investment in JKCC General Supplies, a Ugandan coffee trader. JKCC, which started its operations in 2017, specializes in sourcing high-quality coffee beans directly from over 3,700 smallholder farmers across 16 districts in Uganda. These farmers, registered with the Consortium of Central and Western Farmers Association (COCEWEFA), exclusively sell their produce to JKCC. This direct arrangement eliminates middlemen, providing farmers with better returns and encouraging sustainable farming practices.
In 2020, JKCC obtained its coffee export license and began coffee processing. The company has seen a significant increase in sales volumes due to rising international demand, with around 80% of its produce being exported. Additionally, JKCC produces roast and ground coffee under the brand name JK Coffee Roasters.
JKCC General Supplies is currently in the process of obtaining fair trade certification for 1,687 farmers by the end of 2023.
The ABC Fund is a blended-finance impact fund that supports underserved but profitable segments of agribusiness value chains in developing countries. It invests in farmer organizations, rural SMEs, and financial institutions that can drive job creation and social development but lack the necessary capital.
This investment in JKCC General Supplies follows two previous investments from the ABC Fund: €2 million in UNACREP, a microfinance institution in Benin, and €4 million in Anatrans, a cashew nut processor in Burkina Faso.
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David Grimaud, CEO of Bamboo Capital Partners, said, “I am proud that the ABC Fund has financed 28 organizations supporting nearly 600,000 smallholder farmers since 2019. The ABC Fund is fulfilling its mission by investing in farmer-supporting organizations and rural SMEs that have the potential to grow and create jobs, as is the case with JKCC General Supplies.”
Jerry Parkes, CEO of Injaro Investments Limited, commented, “We’re thrilled to invest in the growth of JKCC, a promising SME in Uganda’s coffee sector, and to continue the ABC Fund’s support for Anatrans through another crop cycle. These investments enable local enterprises to upgrade their operations, promote sustainability, and drive economic development.”
