Magojojo LTD

Company Description

Magajojo LTD — meaning "Sea Cucumber" in the local dialect — is a Mozambique-based private company established to develop and operate an integrated Holothuria scabra (sandfish) aquaculture value chain in Southern Mozambique. The company combines hatchery production, cooperative outgrower engagement, and centralized processing and export of USD-denominated product into a single, commercially disciplined platform.

Countries of Operation

Mozambique

Ownership of Company:

Joint Local and European

European: 70%

Local: 30%

Number of years since incorporated

0

Project Pitch

Magajojo LTD — meaning "Sea Cucumber" in the local dialect — is developing a commercially viable, environmentally responsible, and socially inclusive sandfish (Holothuria scabra) aquaculture value chain in Southern Mozambique. The project integrates a biosecure hatchery, company-operated farms, and a community-based outgrower cooperative model with centralized processing and export. At its core, the project addresses coastal livelihood vulnerability by bringing fishing-dependent communities — with dedicated pathways for women and youth — into a formal, contract-based value chain that offers predictable, stable income. Farmed production simultaneously reduces pressure on depleted wild sea cucumber stocks, supports benthic ecosystem health, and strengthens long-term coastal resilience. All produce is exported and sold in USD to premium Asian markets, generating hard currency revenue — a meaningful hedge against local currency volatility and a direct contribution to Mozambique's foreign exchange earnings. Financially, the project is structured around a blended finance model: grant financing covers high-public-good components such as hatchery establishment, community onboarding, and environmental systems; concessional debt supports grow-out and processing infrastructure; and commercial capital is progressively crowded in as biological and operational risks decline. The platform is designed to reach full commercial sustainability through increasing production volumes, multi-grade market diversification, and a planned transition to predominantly private financing.

Team

Magajojo is currently in its conceptual phase, led by two principal shareholder-founders. Technical execution is supported by an outsourced specialist team, with a full in-house operational team to be recruited and developed using proceeds from the first round of fundraising.

• Manuel Neto — Co-Founder & Managing Director Manuel is a Portuguese entrepreneur who has been building businesses in Mozambique since 2012. He has a proven track record of developing greenfield ventures from inception into commercially successful, operationally complex businesses, including projects that combine private-sector discipline with measurable social impact. His experience spans business development, execution in challenging operating environments, NGO and development-sector work, and university teaching, giving him a rare mix of commercial judgment, technical grounding, and on-the-ground leadership. At Magajojo, Manuel leads overall strategy, local execution, stakeholder engagement, and day-to-day operations. His role is central to translating the project from concept into a scalable operating platform in Mozambique.
• Julian Spezzati — Co-Founder & Investment Director Julian is an investment professional with over a decade of experience at the intersection of finance, conservation, and sustainable development. He has structured and deployed capital across multiple African markets through roles spanning impact investment, conservation finance, and corporate finance advisory. As Investment Director of the Africa Conservation and Communities Tourism Fund — a collaboration between The Nature Conservancy and ThirdWay Partners backed by KfW, IFC, and others — he contributed to the deployment of over USD 75 million in conservation-aligned capital across Southern Africa. He is also co-founder of Maputo Dive Center, a Forbes-featured marine conservation and community enterprise, and brings deep familiarity with Mozambican regulatory, institutional, and coastal contexts. At Magajojo, Julian leads investor relations, financial structuring, and capital mobilization. Julian has been in Mozambique since 2001 and holds dual Belgian and Mozambican citizenship. Seacucumber Consultancy Pty. Ltd. — Technical Partner The project's aquaculture operations are supported by Seacucumber Consultancy (SCC), an Australia-based specialist firm and recognized leader in Holothuria scabra hatchery and grow-out technology. SCC's team of PhDs and specialists brings over 18 years of hands-on commercial experience across Australia, the Maldives, India, the Middle East, Malaysia, and the Philippines — with specific expertise in the species Magajojo farms. Their remit covers hatchery design and management, biosecurity protocols, juvenile production, site selection, environmental monitoring, and technology transfer. SCC provides the biological backbone that underpins the project's risk management framework and production performance targets.

Type of Project

Private Company project

Stage

Concept stage

Annual Revenue (in EUR)

0 - 10.000 EUR

Number of employees

1-10

Total Project Cost (in EUR)

4,000,000

Financing needs (in EUR)

3,000,000

Type of financing needed

Equity; Grant; Convertible Note

The Company is looking for:

Financing; Joint Venture/Partnership;

Planned allocation of fundraising capital

Greenfield (new activity for the company)