GIPF proxy investor, Eos Capital has announced a groundbreaking transaction: their Euphrates Agriculture Fund has completed a partial exit from its investment in Kadila Poultry Farming.
The deal marks the first partial exit by an agriculture-focused private equity fund in an unlisted enterprise.
Eos Capital originally financed Kadila Poultry Farming from its greenfield inception through to full commercial operations, guiding the enterprise into a fully operational entity in the local agricultural sector.
According to an official statement issued by Eos Capital, the transaction has yielded strong financial returns for the fund’s stakeholders, delivering an Internal Rate of Return (IRR) of 19% and a 1.4x return on invested capital.”
They said the transaction demonstrates their ability to identify high-potential opportunities early, working with industry experts to build them into sustainable businesses, and return capital to investors while continuing to participate in the asset’s future growth. “Euphrates’ investment in Kadila was made in 2024 as part of Eos Capital’s strategy to strengthen Namibia’s food security and support important substitution, in line with the government’s stated objective for the primary agriculture sector. At a stage when the project had yet to attract conventional financing, Euphrates provided the early-stage capital needed to establish Kadila’s state-of-the-art production facilities and move the business from concept to operation.”
They added that over the course of the investment, Kadila has established a modern poultry production platform and has become an important contributor to local broiler supply, reducing Namibia’s reliance on imported poultry. “We established the Euphrates Agriculture Fund as Namibia’s first agriculture private equity fund, with a mandate to support national food security and invest in assets that create jobs.”
Eos Capital Managing Director, Elzine Mushambi, said that with unpredictable weather patterns and climate change placing growing pressure on Namibia’s food supply, “local agricultural production is no longer optional; it is essential to our national resilience.” Mushambi added that Kadila shows that investing in resilience and delivering strong commercial returns go hand in hand. “We are proud to deliver both, and returning capital to our investor is how we prove the model works. We are grateful that our investor partners entrusted us with the vision of setting up this first-of-its-kind Agriculture Private Equity Fund in Namibia.”
Eos emphasised that they remain committed to disciplined capital deployment, active ownership and responsible exits. “These exits recycle capital back into the Namibian economy, creating employment, broadening economic growth and strengthening food security while delivering on investor mandates.”
