This presentation is intended to be read in conjunction with FFF full Business Plan document (“FFF Business Plan 2022– 2036 Version 06.00. The main business plan takes a 15-year perspective and examines each potential business line of FFF. This current document takes a shorter time frame (3 and 5 years) and focuses on the key business lines. It also provides an insight into FFF’s flexibility to handle various funding scenarios. The Business Plan is available investors that want to take part in developing FFF and the Community.


FFF is a commercial company with a mission to deliver profitable growth and value to its shareholders. It also has an equally important mission to help the development of agriculture in the region. The main business plan outlines each business line currently under consideration by the management of FFF. Some of these business lines exist primarily because they support the development mission of FFF. This current document focusses only on those business lines that help FFF achieve commercial success. Commercial success is obviously important in its own right, but it also underpins the development mission as well.

However, it is important to note that some investors and donors are providing funding for certain business lines that are related to community development programs and would not provide these funds otherwise. These exceptions are prepared for in the way FFF organize the work.

In the lastpart of 2019, FFF carried out detailed investigations into two crops in particular: Seed Maize and Macadamia nuts. By 2023, according to the business plan seed maize will account for over 70% of FFF revenue 60% of gross profit. As the macadamia trees mature and start to produce nuts, the revenue and gross profit from these quickly surpasses that from seed maize and eventually dominates. By the end of the 15-year period outlined in the business plan, these 2 crops will account for 82% of the revenue and 87% of the gross profit.

Viewed from this perspective, FFF is then a project to build up, over the coming years, a farm based on 2 main crops which will in due course become extremely profitable. Of course, FFF will need to plant commercial maize and sunflower and engage in other activities to ensure cash flow until these two main crops are established and to meet its development goals. However, the management of FFF understands that the organization must be focused overwhelmingly on Seed Maize and Macadamia.


Growing and profitably selling high value crops requires knowledge and competence. An experienced production manager from Zimbabwe, with many years in seed maize production started on our farm November 1. 2020, before the existing planting, and our crops are on the right track.The seed maize production needs very close supervision and a good number of people in the production phase. The extra production cost is paid back by a market price which is 3-4-times that of commercial maize.This year 16 Hectares of seed maize was planted, increasing progressively to 60 Hectares by 2022/23 season. The same approach will be taken with macadamia with the dedicated experienced manager starting in Q2 2021 to oversee the planting of macadamia saplings on 65 Hectares. Irrigation of the macadamia is planned to be done by tractor and tanks during the first 2 years, delaying the investment in the irrigation system.

One manager for each crop is a good start but FFF is committed to build an internal competence that is best in class and resilient (e.g. not destroyed when one key staff member leaves). FFF is developing a competency development plan, that will rely on internal training and knowledge dissemination, ongoing (but reducing) reliance of advisers, partnerships with universities and other bodies. The target is to become a center of excellence in growing and selling seed maize and macadamia.


FFF is currently actively pursuing numerous funding channels. These include loans from banks and funds, donations and equity sale.  FFF is determined to get in the most appropriate investors in the spirit of partnership.

A loan agreement with Norfund, the Norwegian investment Fund for developing countries, has been established, so that new investors shall know that when new equity is committed, they will give FFF access to build up their loan to 220 000 USD.


The full business plan assumes FFF is successful in raising funds in an accelerated fashion and plots an investment schedule accordingly. We believe that this is appropriate as the purpose of the plan is to show the full potential of FFF. It goes without saying, however, that FFF has modelled numerous other scenarios. The starting point for these scenarios is the amount and timing of funding that FFF manages to raise, through equity sale, loans and donations.

The variables that are relevant when laying out these scenarios are:

  1. Decisions to delay or even cancel investments not related to the two core crops
  2. The ability to water the two core crops manually for an initial year or two
  3. Worst case – delaying the core crop planting

Of these (1) is the obvious solution when available, (2) buys some time and (3) is undesirable. The key aim of these scenarios is to ensure a healthily positive cumulative cash flow throughout.


It is important to note that our financial year starts on the 1st October and ends onto the 30th September. So the year “2019” runs from 1st October2019 to the 30th September2020.

  6.1Low Funding Scenario

In this scenario we use worst-case assumptions concerning the funding efforts of FFF. In effect, we are trying to establish the minimum funding requirements needed to cover negative cash flow from operations in the early years and achieve the minimum investment required to deliver the 2 important high-value crops.


This scenario shows that FFF can remain cash positive with these worst-case fund-raising assumptions. The only investments made in 2019 is in silos using funds that have been received for that purpose only. Also 30 % of the farm equipment and part of F20 equipment needed are included in this scenario.

  6.2Medium Funding Scenario

In this scenario we assume that we are relatively successful in raising debt and equity. Clearly, we cover the negative cash flow from operations in the early years and make all investments necessary to deliver on the high value crops in the appropriate time frame. We also assume modest progress on investments associated with FFF’s development mission.


With these assumptions regarding funding, which represents our expected scenario, we see that we can maintain a healthy cash flow whilst accelerating somewhat the investments required to deliver the mission of FFF.

       6.3Full Funding Scenario

This scenario assumes that we are fully successful, in terms of amounts and timing, on all our fund-raising initiatives. We are, therefore, unhindered in our investment plan and set about building the HQ buildings as planned. One danger with this scenario is that focus is taken from the growing of the 2 high value crops and FFF management will have to be vigilant to ward against this.

In this scenario a full-time assistant project manager will be allocated to project to complete the HQ.


Should FFF achieve this best-case scenario in terms of funding then investments shall not in any way be delayed for financial reasons and a healthy cash flow is assured throughout.


FFF is an excellent investment opportunity and has an extra attraction as it delivers, not only good returns, but also a community development mission. Like most start-up companies FFF must carefully manage its cash flow in the early years. We hope that this document, together with the main business plan, shows that FFF has a plan that is specific to the various funding scenarios. FFF has already developed a corporate culture that is flexible and adaptable. We are truly a “learning organization”. FFF is aware that remaining focused on its 2 key crops is essential as is developing best-in-class knowledge and competence.