Jacoma Estates Limited

East Africa,Africa Food and agriculture

Jacoma Estates is the parent company of Tropha Estates, an agribusiness in Northern Malawi developing over 1,000 hectares of irrigated macadamia and annual crops. 

The company is focused on producing cash crops for export, and has three nucleus farms, and a macadamia processing facility. It has also established smallholder outgrower schemes for macadamia, chili and paprika.

Jacoma is continuing to expand the irrigation and processing facilities at its sites to increase the yield and quality of its core products.

This investment was made when British International Investment was named CDC Group.

Our investment

In 2016, CDC invested $8 million of equity into Jacoma through the Impact Accelerator to help the company expand Tropha’s farming and processing operations. 

At the same time, social impact investor, AgDevCo, invested $3.5 million alongside CDC, structured both as debt and equity.

Expected impact

Tropha Estates produces high-value macadamia nuts, chili and paprika. The funding will help expand the plantation’s irrigation and processing capacity and provide a platform for up to 100 hectares of year-round irrigation to local smallholder farmers.

It will also extend existing outgrower schemes and strengthen the company’s impact in neighbouring communities.

In a country where farmers face significant challenges from climate change and drought, lack of access to international markets and low-quality yields, the investment aims to enable up to 5,000 farmers to reach export markets and augment their source of income.

Environmental and social aspects

We are supporting the company through our technical assistance facility to implement a comprehensive environmental and social management system and climate-smart agriculture practices.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

Africa, East Africa

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

Food and agriculture
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Direct Equity
Start date

For direct investments, this is the date British International Investment committed capital to the business or project.

For funds, this is the date that British International Investment committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

December 2016

For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that British International Investment has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.

United Kingdom

We are now British International Investment