Aavishkaar Capital, the investment arm of the Aavishkaar Group, has announced a $5 million loan to Horizon Group Africa through its Global Supply Chain Support Fund (GSCSF).
The investment, made in collaboration with German development bank KfW, marks the fund’s fourth deployment in Africa and its eighth globally.
The financing will support Horizon Group’s working capital needs, particularly the procurement of raw materials to meet rising client demand. Horizon aggregates and processes premium spices such as ginger, turmeric, cloves, cinnamon, cardamom and black pepper through facilities in Nigeria, Tanzania and Madagascar, supplying markets across the EU, Asia and the United States.
Launched as a $ 250 million vehicle, the GSCSF invests in Africa and Asia with a dual mandate of delivering commercial returns while driving measurable Environmental, Social, and Governance (ESG) outcomes. Previous African investments include, Hela Apparel Holdings PLC, an ethical apparel producer with a focus on sustainability and innovation; Balaji EPZ, a denim manufacturer with over 20 years serving global brands and Privamnuts, a leading Kenyan processor and exporter of macadamia nuts.
Founded in Nigeria in 2006, Horizon Group initially operated across agro-commodities, processed foods and furniture before refocusing in 2017 on high-value spice processing and exports. Today, the company works directly with more than 3,000 farmers, organising them into cooperatives for organic certification and traceability, while offering training in good agricultural practices to expand organic cultivation. Rising global demand for organic food has enabled Horizon command higher margins in premium markets.
“We are pleased to partner with Aavishkaar Capital as we embark on the next phase of our growth journey,” said Jomy Antony, CEO, Horizon Group. “Their experience in scaling businesses, strengthening governance systems, enabling access to global customer markets, and unlocking capital will be invaluable as we build Horizon into the leading African spice processing company.”
Darren Lobo, Director at Aavishkaar Capital, added: “We are delighted to partner with the Horizon Group’s exceptional management team, which brings over 80 years of combined expertise in spice growing and trading, to build one of Africa’s largest spice processing companies. We deeply value Horizon’s impactful farm extension works with more than 3,000 farmers across remote regions of Tanzania, Madagascar, and Nigeria, as well as the strong, long-term relationships they have cultivated with top global customers over the past 5–8 years.”
Dr. Markus Aschendorf, Head of Division at KfW, commented: “Our investment in Horizon Group through the Global Supply Chain Support Fund reflects KfW’s commitment to strengthening sustainable supply chains across Africa and Asia. We believe that purpose-driven capital can catalyse meaningful ESG transformation while unlocking inclusive growth. Horizon’s work in ethical sourcing and regenerative agriculture aligns with our vision for resilient, ecologically conscious businesses that are ready to meet global standards and thrive in international markets.”
