• Sahel Capital secures $29 million first close for agribusiness fund
• SCAF II targets West African agribusiness value chains
• Fund makes first Nigerian investment in cold-chain company

Sahel Capital, a private investor specializing in the sub-Saharan agribusiness sector, announced in a statement on Thursday, Jan. 15, 2026, the first close of its growth capital fund, Sahel Capital Agribusiness Fund II (SCAF II).

Initial Funding and Structure

The operation, which was completed in December 2025, allowed the firm to secure $29 million in commitments. These funds came primarily from the German bank KfW Development Bank and family offices based in the United States.

SCAF II is domiciled in Mauritius and Nigeria. It succeeds the Fund for Agricultural Finance in Nigeria (FAFIN) and aims for a final close of $75 million within the next 12 months.

The fund will invest in the agribusiness value chain in West Africa. The targeted countries are Nigeria, Ghana, Ivory Coast, and Senegal. These markets represent a high share of the region's agricultural production and food consumption.

SCAF II is expected to support the creation of more than 2,000 direct jobs, according to Sahel Capital in its statement. It is also expected to improve the livelihoods of approximately 30,000 smallholder farmers and contribute to an estimated reduction of 145,000 tonnes of CO2 equivalent emissions during the lifetime of the fund. This will be achieved through investments in cold chain logistics, efficient processing, and a reduction in post-harvest losses.

First Investment in Nigeria

SCAF II has taken a minority stake in Delifrost Caterers Limited, a Nigerian company active in the distribution of food products under cold chain management. This marks a first investment in Nigeria. Founded in 2010, the company operates cold storage facilities, refrigerated trucks, and food product brands.

The investment is part of the strategy of the fund, which consists of supporting scalable companies that generate measurable development and climate results.

"The first close of SCAF II, along with our first investment, demonstrate the strong investor confidence in our strategy," said Mezuo Nwuneli, managing partner of Sahel Capital.

"We remain committed to building resilient and profitable agribusinesses that address the challenges of food security and climate change in West Africa," Nwuneli added.

Through SCAF II, Sahel Capital seeks to develop actors capable of structuring the food supply of West Africa over the long term.

Chamberline Moko