Haggar Group takes 30% stake in Kenyan tilapia firm Camino Ruiz Agencies
Deal aligns with rising demand for affordable fish protein across the region
KENYA – Haggar Group has acquired a 30% stake in Camino Ruiz Agencies, marking its entry into Kenya’s tilapia industry as part of a broader expansion strategy in agro-industrial ventures across Africa.
The transaction was disclosed through the company’s LinkedIn channel and involves Camino’s partnership operations with Global Tilapia Husbandry Limited.
Camino Ruiz Agencies, headquartered in Nairobi, operates a vertically integrated aquaculture model spanning feed production, hatchery operations, fish farming, processing, and distribution.
The company is seeking to scale its footprint in Kenya while expanding its export reach into markets in the Gulf Cooperation Council region, where consumption of farmed tilapia continues to rise.
Regional aquaculture momentum
The move comes as several African countries intensify efforts to develop aquaculture, with Zimbabwe recently outlining a national tilapia marketing plan to increase output and reduce reliance on imports.
In West Africa, financial institutions in Côte d’Ivoire have also introduced new lending products for fish farmers following discussions held under the Food and Agriculture Organisation-backed FISH4ACP programme.
Kenya has also attracted fresh capital into the sector, including a US$15 million mezzanine financing deal by AgDevCo in Victory Group to support production growth.
The funding will be used to increase Nile tilapia output in Kenya and Rwanda over the next three years while improving distribution networks serving regional buyers.
Investment tied to demand growth
According to Victory Group’s chief executive, Joseph Rehmann, the capital injection is intended to increase supply capacity and streamline logistics as demand for fish protein continues to outpace supply in many East African markets.
AgDevCo had previously extended about US$4 million (US$4 million) to the company in 2021 to enhance production systems and operational efficiency.
In its latest statement, the investor indicated that continued financing reflects expectations that aquaculture will play a larger role in addressing food supply gaps linked to population growth and urban expansion.
Haggar Group, founded in South Sudan in 1904, operates across multiple industries in six African countries and has increasingly focused on partnerships that support agricultural value chains.
The Camino investment signals a shift toward aquaculture as part of that portfolio, with the company positioning itself to participate in a sector that is attracting both regional and international capital.
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