Country: Madagascar

Business sector: Organic fertiliser

Value chain: Tertiary

Market leadership: No 1 bat guano organic fertilizer producer in Africa, Top 3 privately held guano reserves in the world

Investment Status: AAF SME Fund Investment

The AAF SME Fund, managed by Databank Agrifund Manager Limited (DAFML), successfully closed its investment in Guanomad S.A., Antananarivo, Madagascar in June 2013. Guanomad is a leading producer of guano-based organic fertiliser products, which are an affordable, effective and sustainable alternative to traditional chemical fertilisers.