Mauritius-based flower farm Star Bright Holdings Limited is set to receive €11 million ($13 million) in financing from the International Finance Corporation to expand operations in East Africa. The financing will support capital expenditures on farms in Kenya and Ethiopia, including upgrades to production capacity and sustainability measures.
The €11 million ($13 million) senior loan will contribute to Star Bright’s total planned capital expenditure of €15.4 million ($18.2 million). The financing will be directed toward projects including water recycling systems at packhouses, installation of energy-efficient lighting, and other upgrades across the group’s operations.
IFC backs Star Bright expansion in East Africa
According to IFC, this support is intended not only to strengthen the company’s balance sheet and working capital management but also to reduce reliance on high local bank interest rates while providing access to IFC’s global industry expertise and international networks in the floriculture sector.
Under the expansion plans, Star Bright will add 50 acres of flower cultivation in Nakuru County, Kenya. IFC anticipates that the investment will generate broad economic benefits, including job creation, increased domestic value addition, foreign exchange earnings, and improved market competitiveness through demonstration effects that other growers could replicate.
Star Bright expands East Africa operations
Star Bright, operating under the “Marginpar” brand, specializes in summer flower production across East and Southern Africa. The company manages ten farms in Kenya and Ethiopia with an annual production of 220 million stems exported to Europe and Asia. In addition to these farms, it sources flowers from three partner farms in Tanzania and four in Zimbabwe, broadening its supply network across the region.
The company’s ownership reflects a mix of private equity and individual investment. AgriVie and Norfund hold 42 percent and 25 percent stakes, respectively, while co-founder Richard Fernandes retains 19 percent, Rob Koning 6 percent, and the remaining shares are held by minority investors. Patrick Wanguru, serving as chief financial officer, leads the company’s financial and operational strategy, guiding the group through this next phase of growth.
Funding drives floriculture and economy
By blending financial support with expertise, Star Bright is positioning itself to expand sustainably while contributing to East Africa’s floriculture sector and the regional economy. The new funds are expected to enhance efficiency, broaden output, and create ripple effects in employment and trade, offering a model for sustainable investment in agricultural enterprises.
