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.

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. The financing will help Jacoma expand its farming operations at its Tropha Estates in Northern Malawi, where it produces high value macadamia nuts, chilli and paprika.

Expected impact

Our investment in this inclusive agribusiness will expand its production of high value macadamia nuts, birds eye chili and paprika in northern Malawi for export with offtake from out-growers, connecting them to the global value chain and the provision of irrigation infrastructure for neighbouring smallholder farmers to support climate resilience.

Environmental and social aspects

Jacoma is implementing a comprehensive environmental and social management system. The adoption of energy and water saving options is under discussion following audits in 2019.

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 CDC committed capital to the business or project.

For funds, this is the date that CDC 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 CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.


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

United Kingdom