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Membership No.

5-0020-15-000-00

Category

Ordinary

Sector

Banks and Investors

Country/Region

Mauritius

Member since

20 October 2015

African Agriculture Fund LLC

Profile

The African Agriculture Fund (AAF) is a unique investment vehicle, which provides equity funding to private companies in the African agricultural and food-specific sectors. It strives to
make a positive impact on African agriculture and food production. Through its funding, portfolio companies are able to implement strategies that enhance and diversify food production and distribution in Africa, in response to the continent?s food security challenges.

Established in 2009, AAF has a particular focus on sub-Saharan Africa, and its investments now extend across the continent ? in West, Central, Southern and East Africa ? and across the value chain of agriculture and food production.

AAF is managed by Phatisa and funded by a pool of international investors that include leading European, USA and African development finance and government institutions.


ACOP Report Submissions

ACOP PERIOD FILE NAME NOTES FILE SIZE
2018
  • African_Agriculture_Fund_LLC-ACOP2018.pdf
  • 21.9 KB
    2017 african agriculture fund llc-ACOP2017.pdf 26.9 KB
    2016 african agriculture fund llc-ACOP2016.pdf 28.9 KB

    Organisation's Commitments Toward Sustainability

  • How will your organisation promote the RSPO internally and to other stakeholders?
    The African Agriculture Fund Limited (the 'Fund'), as managed by Phatisa Fund Managers Limited, will promote the RSPO internally and to other stakeholders through the adoption and implementation of the RSPO Principles and Criteria into the Fund's Social and Environmental Management System (SEMS), a requirement of IFC Performance Standard 1. The Fund implements the SEMS as a management tool in its investments, this will incorporate RSPO at all levels.
  • Where relevant, what processes is the organisation establishing to engage with interested parties, for example to resolve conflict or to use sustainably produced palm oil?
    The Fund has an adopted SEMS that incorporates the IFC Performance Standards on Sustainability. The RSPO Principles and Criteria will be incorporated into the Fund SEMS for implementation into the Palm Oil businesses in which the fund is invested. These processes include land management, out-grower management, grievance mechanisms and social development.
  • Where relevant, how will your organisation work towards implementing the RSPO Principles and Criteria or assessing supplier performance against these criteria?
    The Fund has an adopted SEMS that incorporates the IFC Performance Standards on Sustainability. The RSPO Principles and Criteria will be incorporated into the Fund SEMS for implementation into the Palm Oil businesses in which the fund is invested. Further, implementation is monitored and reported on on a quarterly basis. The monitoring and the reporting enable the Fund's manager to review progress and adjust implementation and management processes accordingly.
  • Any other information that would support the application such as what your organisation hopes to gain from joining RSPO and how it would support RSPO?
    To enhance its impact on development, the Fund has deployed two influential instruments: the AAF SME Fund (an AAF subsidiary fund, focused on small to medium sized enterprises to boost development returns) and a Technical Assistance Facility (TAF) of ?uro 10 million to finance studies and capacity-building for small firms and larger out-grower/small-holder schemes across portfolio companies.
    The AAF?s priority investments are in food production and distribution, in cereals, livestock farming, dairy, fruit and vegetables, beverages, FMCG food, crop protection, logistics, fertilisers, seeds, edible oils, smallholders, and agri services in Africa, with a particular focus on sub-Saharan Africa. One quarter of the Fund will be invested in primary agriculture.
    To combat the chronic undercapitalisation in the African agri business and food sectors, the Fund, equipped with an innovative returns structure, also attracted private sector capital, bringing valuable commercial experience and input to the Fund?s investment and management process and the companies it invests in.
    The formal appointment of Phatisa as Fund Manager in July 2009 launched the African Agriculture Fund (AAF) into the market. A coordinated response from a pool of European and African development finance institutions, this private equity fund is powerful and sizeable enough to make a positive impact on African agriculture and food production, through a truly pan-African investment approach in response to the continent?s food security.
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    DISCLAIMER

    This material and accompanying data is based on submissions from RSPO members which has not been independently verified and is provided by the RSPO and authors without warranty of any kind, either expressed or implied. By making use of this material you do so at your own risk and you accept that the author shall not be liable for any claims, liabilities, losses, damages, costs or expenses of any kind arising.