BFA Asset Management’s private credit vehicle, Kimbo Fund, has announced a strategic investment in FoodCare, an Angolan agri-food processing company poised for expansion in global markets.
FoodCare specializes in processing 25 traditional African foods, including cassava, mufu, and mopane worms, catering to both local and international demand. Operating at a current capacity of 84 tonnes per month, the company exports 95% of its products to Europe, North America, and South Africa, positioning itself as a key player in Africa’s growing agri-food export sector.
According to Rui Oliveira, CEO of BFA Asset Management:
This isn’t just an investment; it’s a correction of a market oversight. We see a business with immense intrinsic value, trapped between its proven capabilities and its untapped potential. The data is clear: the demand is real, the unit economics are sound, and the growth trajectory is undeniable.
The investment aims to unlock FoodCare’s ability to scale production and meet rising global demand for African food products.
Marlene José, Founder and CEO of FoodCare, shared the impact of this partnership:
For years, we’ve had to say ‘no’ to orders we knew we could fulfill. Seeing our products on global shelves was a dream realized, but being unable to meet the demand was heartbreaking. Kimbo didn’t just see a balance sheet; they saw our struggle and ambition in those numbers. This partnership means we can finally say ‘yes’ to the world. It means the taste of Angola will reach more homes, and the communities we source from will thrive. This is the moment we’ve been working towards.
The investment will enable FoodCare to:
- Expand production capacity beyond its current limits
- Strengthen supply chains for traditional African foods
- Enhance export capabilities to meet growing international demand
- Support local communities through sustainable sourcing and job creation
