Aavishkaar Capital’s Global Supply Chain Support Fund (GSCSF) Supports Horizon Group Africa with USD 5 Million Loan to Scale Operations

Source: Africa Publicity

Aavishkaar Capital, a company of the Aavishkaar Group known for its entrepreneurship-led approach to impact-driven business growth, has announced its fourth investment in Africa in collaboration with KfW, the German state-owned investment and development bank. The investment has been facilitated by the Global Supply Chain Support Fund, providing a loan of USD 5 million to the Horizon Group Africa.

This is the 8th overall investment by GSC Support Fund across the Global South and the fourth investment in Africa.

Horizon Group’s Spice Value Chain Operations

The Horizon Group aggregates and processes high-value whole spices such as ginger, turmeric, cloves, cinnamon, cardamom, and black pepper through its facilities in Nigeria, Tanzania, and Madagascar. These products are supplied to markets in the EU, Asia, and the United States.

The loan will be used to support Horizon’s working capital needs, particularly in the purchase of raw materials to better fulfil increased client orders.

The Global Supply Chain Support Fund’s Broader Investments

The Global Supply Chain Support Fund is a USD 250 million fund focused on Africa and Asia, with a mandate to deliver strong Environmental, Social, and Governance (ESG) outcomes while achieving commercial returns and positive social impact.

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Previous investments in Africa include:

• Hela Apparel Holdings PLC – specializes in ethically produced apparel with a strong focus on sustainability and innovation.

• Balaji EPZ – a veteran apparel manufacturer producing for top global denim brands.

• Privamnuts – a leading Kenyan processor and exporter of macadamia nuts.

Horizon Group’s Growth Journey

Founded in 2006 in Nigeria, Horizon Group initially traded in agro-commodities, processed foods, and furniture. By 2017, the group shifted its focus to sourcing, processing, and exporting high-value spices from Nigeria, Tanzania, and Madagascar—countries well-suited for spice cultivation.

Horizon processes both organic and conventional spices. With growing global awareness of organic food, demand for organic spices has expanded, enabling Horizon to capture better prices and margins.

The company works directly with over 3,000 farmers, offering training in good agricultural practices, supporting organic certification, and ensuring full traceability through farmer cooperatives.

Industry Voices on the Investment

Jomy Antony, CEO of Horizon Group, remarked:
“We are pleased to partner with Aavishkaar Capital as we embark on the next phase of our growth journey. 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, said:
“We are delighted to partner with Horizon Group’s exceptional management team, which brings over 80 years of combined expertise in spice growing and trading. Horizon’s impactful farm extension works with more than 3,000 farmers, as well as strong, long-term customer relationships, position it as a leading African spice processor.”

Dr. Markus Aschendorf, Head of Division at KfW, added:
“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 Asia. Horizon’s ethical sourcing and regenerative agriculture align with our vision for resilient, ecologically conscious businesses ready for international markets.”

About Aavishkaar Capital

Aavishkaar Capital is an Impact fund manager focused on the Global South. It has invested in enterprises impacting over 136 million lives across Sustainable Agriculture, Financial Inclusion, and Essential Services in India, Emerging Asia, and Sub-Saharan Africa. The company manages over USD 550 million in assets and aligns with 13 of the 17 Sustainable Development Goals (SDGs).

Website: www.aavishkaarcapital.in

About the Global Supply Chain Support Fund

The Global Supply Chain Support Fund is a USD 250 million facility managed by Aavishkaar Capital. It supports SMEs in Asia and Africa with non-dilutive growth capital, strengthening global supply chains.

Website: www.gscsupportfund.com

About KfW

KfW Development Bank has supported the German Federal Government’s development and cooperation goals for over 50 years. It finances programs and projects in developing economies, focusing on poverty reduction, climate protection, and sustainable globalization.

Website: www.kfw-entwicklungsbank.de

About Horizon Group

The Horizon Group sources and processes whole spices in Africa for export to the EU, Asia, and the US. It operates in Nigeria, Tanzania, and Madagascar, specializing in ginger, turmeric, cardamom, cinnamon, cloves, and black pepper. Horizon partners with over 3,000 farmers to deliver high-quality, traceable produce.

Website: www.horizonmaxme.com

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