SPECIALIST agriculture investor AgDevCo has announced a major investment of $10 million in Tropo Farms, Ghana’s leading tilapia producer and one of the largest aquaculture companies in sub-Saharan Africa. The long-term funding aims to enhance Ghana’s fish production capacity, providing a sustainable, high-quality alternative to wild-caught fish and reducing reliance on imported seafood.
Tropo Farms, which employs 917 people, supplies fish to the local market through a network of approximately 3,000 market traders, the majority of whom are women. In a country with one of Africa’s highest fish consumption rates, exceeding 800,000 tonnes annually, this investment addresses the growing demand for affordable, sustainably sourced fish.
A boost for local fish production
The $10 million investment from AgDevCo will enable Tropo Farms to build a state-of-the-art processing facility and acquire advanced production equipment. With these resources, Tropo aims to increase its production capacity to 30,000 tonnes within five years. The expansion supports food security in Ghana by improving access to nutritious fish, bolstering local supply, and reducing the need for imports.
Kweku Koranteng, AgDevCo’s Investment Director for West Africa, emphasised the significance of this collaboration: ‘Investing in Tropo Farms supports 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.’
Scaling aquaculture for West Africa
Founded in 1997 by Mark Amechi, Tropo Farms has pioneered aquaculture in Africa, developing innovative fish farming practices adapted to local environmental conditions. With AgDevCo’s support, Tropo aims to further develop West Africa’s aquaculture sector, looking to expand into new markets in the region through strategic partnerships.
Francisco Murillo, CEO of Tropo Farms, highlighted the impact of AgDevCo’s investment on Tropo’s future: ‘This loan is a major milestone for Tropo Farms. It will expand our logistics and distribution network while bringing more benefits to the communities where we operate. We are pleased to partner with AgDevCo, who brings flexible long-term capital to support our growth, as well as agribusiness expertise.’
Mark Amechi added that the agreement ‘not only enables us to scale our production volume and market share within Ghana but also represents a critical step toward realising our long-held ambitions of expanding further into the underdeveloped West African aquaculture sector.’
AgDevCo’s commitment to sustainable agriculture
AgDevCo’s $10 million investment aligns with its mission to foster sustainable and impactful agribusinesses across Africa. With $280 million under management and over 65 investments, AgDevCo is committed to supporting agribusinesses that drive economic growth, create jobs, and enhance food security. The organisation also focuses on climate sustainability and, where possible, regenerative solutions, aiming to build a resilient agriculture sector that benefits both people and the planet.
As Ghana’s aquaculture sector grows, AgDevCo’s investment in Tropo Farms positions the country as a leader in sustainable fish production, fostering regional food security and economic stability while paving the way for an expanded West African aquaculture industry.
