Aavishkaar Capital, part of the globally recognized Aavishkaar Group, has announced a USD 5 million loan to Horizon Group Africa, a leading processor and exporter of high-value spices.
The funding is the fourth investment in Africa under the USD 250 million Global Supply Chain Support Fund (GSCSF), launched in partnership with German development bank KfW.
The GSCSF is designed to scale impactful businesses across Africa and Asia, with a strong emphasis on Environmental, Social, and Governance (ESG) outcomes alongside commercial returns. This latest investment brings the fund’s global portfolio to eight, reinforcing its commitment to strengthening sustainable supply chains across the Global South.
Horizon Group, founded in Nigeria in 2006, operates spice aggregation and processing facilities in Nigeria, Tanzania, and Madagascar.
The company specializes in sourcing and exporting premium whole spices such as ginger, turmeric, cloves, cinnamon, cardamom, and black pepper to markets in the EU, Asia, and the United States.
The USD 5 million loan will support Horizon’s working capital needs, specifically the procurement of raw materials to meet increasing international demand.
The company’s focus on both organic and conventional spice processing has positioned it well to benefit from the growing global appetite for organic food products.
Since shifting its core operations to high-value spice exports in 2017, Horizon has built a robust network of over 3,000 farmers.
These farmers are trained in sustainable agricultural practices, organized into cooperatives, and supported in securing organic certification and ensuring full traceability — a crucial advantage for accessing premium global markets.
“We are pleased to partner with Aavishkaar Capital as we embark on the next phase of our growth journey,” said Jomy Antony, CEO of Horizon Group.
“Their experience in scaling businesses, strengthening governance, enabling global market access, and unlocking capital will be invaluable as we build Horizon into Africa’s leading spice processing company.”
Darren Lobo, Director at Aavishkaar Capital, praised Horizon’s leadership and vision.
“We are delighted to partner with Horizon Group’s exceptional management team, which brings over 80 years of combined expertise in spice cultivation and trade. Their long-standing relationships with global buyers and commitment to farmer-led development make them a perfect fit for our mission,” he said.
Dr. Markus Aschendorf, Head of Division at KfW, emphasized the broader impact of the investment.
“Our support for Horizon through the GSCSF reflects KfW’s goal of strengthening sustainable and ethical supply chains across Africa and Asia. Horizon’s commitment to regenerative agriculture and traceable sourcing aligns closely with our vision for globally competitive, ecologically conscious enterprises.”
To date, the GSCSF has made notable investments in African companies such as Hela Apparel Holdings PLC, Balaji EPZ, and Privamnuts — all leaders in sustainable export manufacturing and processing. Uganda, though not yet a beneficiary, is a priority for the fund moving forward.
“Uganda remains a key focus for the GSCSF,” added Lobo.
“We see great potential in Ugandan SMEs, particularly in agriculture — from coffee and fruits to aquaculture products like Nile perch. Our objective is to support such businesses through innovative financing and global market access.”
As the Global Supply Chain Support Fund continues to expand, its partnership with Horizon Group demonstrates the growing momentum behind Africa’s role in sustainable, value-added export industries.
By backing local enterprises and empowering smallholder farmers, the fund aims to drive inclusive economic growth and environmental resilience across emerging markets.
