Major EU firm snaps up stake in Phikwe Citrus

Pauline Dikuelo | Tuesday April 22, 2025 09:24

According to available public records, SPC is 75.58% owned by Zapemm B.V., with the balance held by local business tycoon, Ramachandran Ottapathu.

The deal is set to provide a powerful boost to SPC’s ambitions of expanding its operations and deepening Botswana’s footprint in international agricultural markets.

Citrico Global is a major player in the global fruit sector, farming more than 30,000 hectares across the world and distributing over one million tonnes of produce to 70 countries annually. The company employs approximately 12,000 staff and boasts an annual turnover of around €1 billion.

According to SPC, the strategic rationale behind the transaction lies in Citrico Global’s robust international marketing and distribution networks.

“Market access and route-to-market are crucial in our industry,” SPC said in a statement. “Citrico Global brings an invaluable established customer base, along with deep knowledge and expertise in global agribusiness.”

Over the past 18 months, SPC explored several options for capital-raising and partnerships, with the goal of finding a partner that could not only inject capital, but also contribute meaningfully to the company’s long-term growth. SPC said Citrico Global stood out as the most attractive option by far.

The company assured its board and stakeholders that it remains fully committed to the development and expansion of agriculture in Botswana. Both current shareholders and new partners are reportedly deeply invested in SPC’s success.

“We are not going anywhere. In fact, we are investing further. Many hundreds of jobs will be created, Botswana’s exports will rise, and eventually, agro-processing and supporting industries will follow,” the company stated.

The $12 million capital injection from Citrico Global will support the development of a second large-scale citrus farm, mirroring SPC’s existing operations. The company is already in discussion with the government on the planned expansion.

Selebi-Phikwe Citrus is a flagship agricultural development in eastern Botswana, launched as part of broader national efforts to diversify the economy and revitalise the post-mining town of Selebi-Phikwe. The SPC project spans hundreds of hectares and focuses primarily on citrus fruit cultivation for export markets.

The farm is one of the largest of its kind in the country and plays a crucial role in Botswana’s agricultural transformation, providing employment, creating value chains, and building rural economies.