In a major boost to Africa’s agricultural exports, Aavishkaar Capital, a part of the Aavishkaar Group renowned for its entrepreneurship-led, impact-driven investment approach, has announced a USD 5 million loan to Horizon Group Africa.
The funding has been facilitated through the Global Supply Chain Support Fund (GSCSF), a USD 250 million initiative launched in collaboration with German development bank KfW, aimed at scaling businesses across Africa and Asia.
This investment marks the GSCSF’s fourth deployment in Africa and its eighth globally. The fund is strategically focused on strengthening sustainable supply chains while delivering commercial returns and measurable Environmental, Social, and Governance (ESG) outcomes.
Horizon Group Africa, which operates spice aggregation and processing facilities in Nigeria, Tanzania, and Madagascar, will use the loan to meet working capital needs — specifically the procurement of raw materials to fulfill growing international orders.
The company supplies premium whole spices such as ginger, turmeric, cloves, cinnamon, cardamom, and black pepper to customers across Europe, Asia, and the United States.
Founded in 2006 in Nigeria, Horizon Group originally operated across diverse trading sectors including agro-commodities, processed foods, and furniture. In 2017, the company sharpened its focus exclusively on high-value spice sourcing, processing, and export.
Leveraging the favourable soil and climate conditions in its operating regions, Horizon processes both organic and conventional spices — a strategy that has paid dividends amid growing global demand for organic food products.
The company works directly with over 3,000 farmers, offering training in good agricultural practices to support the shift toward organic cultivation. It has also established farmer cooperatives, ensuring traceability and certification compliance — crucial factors in accessing premium international markets.
“We are pleased to partner with Aavishkaar Capital as we embark on the next phase of our growth journey,” said Jomy Antony, CEO of Horizon Group.
“Their experience in scaling businesses, strengthening governance systems, enabling access to global customer markets, and unlocking capital will be invaluable as we build Horizon into the leading African spice processing company.”
Darren Lobo, Director at Aavishkaar Capital, highlighted the synergy between the two organizations.
“We are delighted to partner with the Horizon Group’s exceptional management team, which brings over 80 years of combined expertise in spice growing and trading, to build one of Africa’s largest spice processing companies,” said Lobo.
“We deeply value Horizon’s impactful farm extension works with more than 3,000 farmers across remote regions of Tanzania, Madagascar, and Nigeria, as well as the strong, long-term relationships they have cultivated with top global customers over the past 5–8 years.”
Dr. Markus Aschendorf, Head of Division at KfW, echoed the significance of the investment. “Our investment in the Horizon Group through the Global Supply Chain Support Fund reflects KfW’s commitment to strengthening sustainable supply chains across Africa and in Asia,” he said.
“We believe that purpose-driven capital can catalyze meaningful ESG transformation while unlocking inclusive growth. Horizon’s work in ethical sourcing and regenerative agriculture aligns with our vision for resilient, ecologically conscious businesses that are ready to meet global standards and thrive in international markets.”
While the GSCSF has already made three notable investments in Africa — including in Hela Apparel Holdings PLC, Balaji EPZ, and Privamnuts — Uganda remains an upcoming focus.
“While we haven’t announced any investments in Uganda yet, the country remains a key focus for the Global Supply Chain Support Fund,” added Lobo.
“We see tremendous potential among Ugandan SMEs, particularly those driving exports in agriculture — especially coffee, fruits, and aquaculture such as Nile perch. Our goal is to work closely with such businesses, providing innovative financing solutions and market linkages that enable them to scale sustainably and compete on a global stage.”
As the GSCSF continues to expand its footprint across the Global South, strategic partnerships such as this one with Horizon Group underscore the fund's commitment to building resilient, inclusive, and sustainable supply chains that empower local communities and connect them to the world.
