Israeli firm to invest US$250 million in agro areas

Aie Holding Ltd is set to make an investment of US$250 million in Tanzania’s agro-industrial education and agro-management skills.

The firm – which obtained its official registration in Tanzania 2020 – is planning to invest in projectsconnected to agricultural education, logistics division, vegetable oil plant, feed mill, packing and storage, solar power, cattle farm, poultry farm, fish farm, field crops, tropical fruit concentrate, solar power, and wastewater treatment.

The Dar es Salaam-based firm’s founder and chairman Mr. Avi Postelnik, an Israeli investor has indicated that his firm is planning to source the needed financing from private equity, as well as local and international lenders.

“We have already met the TBA (Tanzania Bankers Association) to get their support in organizing five big banks to build a syndicate,” Postelnik said, without disclosing the banks involved in the deliberations.  

Giving the breakdown of the spending, he indicated that about US$200 million of the money will be put intothe infrastructure of the agro-industrial projects, while the remaining US$50 million would be working capital.

The founder also issued an open invitation to local partners who are interested in joining the effort.The firm will situate its operations in Dar es Salaam, Kagera, Mwanza, Bagamoyo, Njombe, and Morogoro, and is set to make over 70,000 direct jobs, including executive-level positions, available to locals.