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AgDevCo Successfully Exits Saise Farming Enterprises, Strengthening Zambia’s Potato Industry

LUSAKA, Zambia, March 13, 2025 (GLOBE NEWSWIRE) — AgDevCo is pleased to announce its successful exit from Saise Farming Enterprises Limited, through an equity sale to Buya Bamba Limited, a leading Zambian potato company.

Saise was established in 2016 as a specialised potato seed farm between AgDevCo, Buya Bamba and its managing partners. Saise has played a crucial role in developing Zambia’s potato sector by producing high– quality, early–generation seed potatoes which are carefully chosen for Zambia’s climate and grown under licence from Buya Bamba.

With 285 hectares under irrigation in Mbala, Northern Zambia, Saise's seed potatoes are multiplied by a
network of growers, reaching a large portion of the country’s potato farmers. The farm has been instrumental in improving seed availability, enhancing yields, and enabling a reliable local source of excellent quality potato seed for Zambia. Additionally, Saise has created much–needed formal employment in Northern Zambia.

“Saise is in excellent hands with Buya Bamba, our partner in the venture from the start and are grateful for the commitment from our managing partners to build Saise into what it is today. As a proudly Zambian company, Buya Bamba is well–positioned to continue growing Zambia’s potato industry,” said Sean Carey, South Region Managing Director at AgDevCo.

Anthony Barker, Managing Director of Buya Bamba, added, “The future of Zambia’s potato industry is bright and this acquisition further strengthens the Zambian potato value chain. Buya Bamba appreciates the effort from AgDevCo to jointly lead the development of Saise, and take the early stage investment risk of this successful greenfield project.”

After successfully closing its latest US$85 million fund raise in 2024, AgDevCo remains committed to supporting pioneering agribusinesses across Zambia and Sub–Saharan Africa and is actively seeking opportunities to invest in sustainable farming and agri–processing ventures in Zambia and across the region.

About AgDevCo:

AgDevCo is a specialist impact investor operating exclusively in the agriculture sector in Africa. Our mission is to build successful African agribusinesses through long–term investment and support to deliver positive impact at scale. We invest debt and equity in African agribusinesses to create jobs, improve food security, and boost prosperity. With $340 million assets under management, we have made over 88 investments to date. Our investments leverage private capital into socially–responsible farming and agri–processing businesses in Africa, with major benefits for smallholder farmers and local communities.

Contact for media enquiries: Sean Carey, Managing Director South Region; Tel: +44 (0) 20 7539 2650; email [email protected] or [email protected]

About Buya Bamba:

Buya Bamba is a Zambian agribusiness company specializing in the production, marketing, storage, and distribution of high–quality potatoes. The company plays a key role in strengthening Zambia’s agricultural value chain by supplying locally grown potatoes to agro–processing industries, supermarkets, restaurants, and commercial buyers. Buya Bamba strongly supports the informal sector through its sales depots which create income generating opportunities downstream.

Contact for media enquiries: Anthony Barker, Managing Director; Tel: +260 966 861 140; email [email protected]

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/52b0d869–9304–42ab–8487–898b578d8c7f

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Anglo American’s Mogalakwena PGM mine completes IRMA audit

SEATTLE, March 13, 2025 (GLOBE NEWSWIRE) — Today the Initiative for Responsible Mining Assurance (IRMA) released the audit report of Anglo American’s Mogalakwena PGM complex against the IRMA Standard for Responsible Mining. Independent audit firm ERM–CVS assessed Mogalakwena at IRMA 50 when measuring its performance against the Standard’s best practice social and environmental criteria.

IRMA 50 means that ERM–CVS verified that the operations at least substantially met all 40 critical requirements of the IRMA Standard, as well as at least 50% of the Standard’s criteria in each of the four principle areas: social responsibility, environmental responsibility, business integrity and planning for positive legacies. The full audit reports are available on the Mogalakwena audit page on the IRMA website.

The information stakeholders need to decide what’s going well — and what may require more attention.

“This report demonstrates that mines can point to transparent, independent evaluations of their environmental and social performance,” said Aimee Boulanger, Executive Director of IRMA. “Through detailed IRMA audit reports, mining companies, communities and companies that purchase mined materials can gain the information they need, to decide what’s going well — and what may require more attention — at specific mines.”

As the IRMA Standard is recognized and adopted around the globe, these audits are steps in a deepening dialogue between mining companies and those affected by their operations. Because the process is still evolving, the results should be reviewed and interpreted accordingly.

“An increasing number of community members and workers are engaging in IRMA audits, and they’re using the audit reports to communicate directly with the mining company about their priorities for improvement,” Ms. Boulanger said. “If readers find results inconsistent with their experience, we encourage them to share their perspectives with IRMA and the company so that we can improve the audit review process and support continuing improvement at the site—as community members and NGOs have already done in this case.”

“We are always looking to improve not only mining practices, but also IRMA's system. IRMA's improvements, and being transparent about how we need to improve, is built into our system and a measure of its success,” said Ms. Boulanger.

Craig Miller, CEO of Anglo American Platinum said, “This milestone at Mogalakwena is significant in our overall adoption of IRMA. It enables us to promote transparency and best practice in sustainability, while adding value to our global customers by helping them meet the increasing expectations for responsibly mined materials in an efficient and credible way. With IRMA 50, we have accomplished our sustainable mining plan target of having all our mining operations assured against a recognised responsible mining standard by 2025.”

Including Mogalakwena, 23 industrial–scale mines worldwide are within the IRMA independent assessment system. After an initial self–assessment, a participating mine engages a third–party audit firm — trained and approved by IRMA — to conduct a detailed independent evaluation, including on–site visits to the mine and nearby communities. Following the release of the initial audit, a shorter surveillance audit checks on the mine’s performance. Three years after the initial audit, the operation is fully audited again (Note: The first mines audited in the IRMA system have had extensions to this timeline due to Covid delays and launch–phase learning; updated full reviews will be required to maintain or increase achievement scores.)

The independent IRMA system is the only global mining standard that provides equal power to the public sector (communities and Indigenous rights holders, mine workers, and environmental and human rights advocates) alongside the private sector (mining companies, mined materials purchasers and investors).

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