AgDevCo, a specialist agriculture investor, has announced a significant long-term investment in Tropo Farms, a leading tilapia fish producer based in Ghana. The $10 million investment is set to enhance Tropo Farms’ capacity and modernise its facilities, supporting the growing demand for high-quality, affordable fish in West Africa.
Founded in 1997 by Mark Amechi, Tropo Farms has established itself as a pioneer in African aquaculture, employing 917 people and supplying fish through approximately 3,000 local market traders, primarily women. With Ghana boasting one of the highest fish consumption rates in Africa—over 800,000 tonnes annually—this investment comes at a crucial time to address local demand, reduce reliance on imports, and provide a sustainable alternative to wild catch.
The funds from AgDevCo will be allocated towards constructing a modern processing facility and acquiring advanced production equipment. This expansion is expected to increase Tropo Farms’ output to 30,000 tonnes within five years, significantly contributing to improved nutrition and food security in Ghana.
Kweku Koranteng, AgDevCo’s Investment Director for West Africa, stated, “Investing in Tropo Farms supports the production of an important protein source in Ghana, contributes to import substitution, and promotes economic growth. Our investment will enhance operational efficiency and sustainable aquaculture practices.”
Tropo Farms plans to utilise this investment to expand its logistics and distribution network, with CEO Francisco Murillo highlighting the benefits for local communities. “This loan is a major milestone for Tropo Farms. We are pleased to partner with AgDevCo, which brings flexible long-term capital and agribusiness expertise to support our growth.”
The partnership aims not only to scale production but also to explore further aquaculture projects across West Africa, tapping into a region with immense potential for aquaculture development. Amechi added, “This agreement will enable us to scale our production volume and market share within Ghana, representing a critical step toward realising our long-held ambitions of expanding into the underdeveloped West African aquaculture sector.”
AgDevCo, which currently manages $280 million in investments, has made over 65 investments in the agricultural sector to date. The organisation’s vision is to foster a thriving commercial agriculture sector that benefits both people and the planet. By supporting agribusinesses to grow, create jobs, and enhance food production while linking farmers to markets, AgDevCo aims to contribute towards climate sustainability and regenerative solutions.
As Tropo Farms embarks on this new chapter with AgDevCo’s support, it positions itself as a key player in meeting Ghana’s growing fish consumption needs while also bolstering local economies through job creation and enhanced food security.
