Nyaradzo Group through Sahwira Agriculture (Sahwira) is in the market to raise US$20 million amid plans to expand its commercial agriculture operations, reported Business Weekly.
Sahwira is a corporate vehicle set up by the Nyaradzo Group to invest in large-scale commercial crop production with emphasis on the staple cereals maize and wheat.
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The capital raise initiative is among a 2021 list of projects that have been approved for prescribed asset status.
Business Weekly reported sources as saying Sahwira aims to occupy an important position in the food production matrix of Zimbabwe and the region.
Sahwira is said to be currently operating farms with a combined hectarage of 2 000 but is planning to add more farms to achieve economies of scale.
The company’s business model is biased towards high-value production of export crops.
The Nyaradzo Group’s venture into agriculture comes in a year it is celebrating its 20th anniversary.
Since its establishment in 2001 as a Nyaradzo Funeral Services, the Group has since incorporated several other units under its ambit which include:
- Nyaradzo Life Assurance Company
- Calundike Exports
- Eureka Insurance Brokers
- Sahwira Events and Lifestyle
- Sahwira Bureau De Change
- Nyaradzo Asset Management
- Sahwira Agriculture.