- Norfund’s investment in the chicken producer Irvine aims to create jobs while contributing to food security on the African continent
- The funds will improve Irvine’s capability to serve more smallholder farmers in East Africa’s fast-growing youth population
Africa – Norfund is investing US$18 million in Irvine’s production of chicken and chicken feed in Kenya, Tanzania, Botswana and Mozambique.
Chicken and eggs are an available and relatively affordable source of protein. A fast-growing population increases the demand in many African countries.
Irvine hatches and sells chicken and feed to smallholder farmers, which accounts for 70% of the chicken production in African countries.
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They also provide assistance and training to smallholder farmers, of which 70% are women.
Speaking about this investment, Norfund’s Regional Director William Nyaoke said:
“Irvine’s contribution to promoting agribusiness value chains has been instrumental in creating long-term employment for the youth, particularly in rural areas, thereby driving economic empowerment and enhancing livelihoods. By scaling production capacity and strengthening the local supply chains, Norfund’s investment will improve its capability to serve more smallholder farmers and create new jobs for East Africa’s fast-growing youth population.”
The investment will finance a modern grandparents’ farm and a feed mill in Tanzania, as well as a hatchery in Kenya.
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It will increase production, be closer to the market and reduce reliance on imports.
The expansion is estimated to create 200 direct jobs in addition to increased income for farmers.
The new feed will procure maize and soybeans from local farmers, providing further income and strengthening regional agricultural value chains.
Group CEO of Irvine’s Group, Craig Irvine, said:
“These funds will fuel the next chapter of our growth, enabling us to continue driving our purpose of changing lives in Africa by providing accessible, high-quality protein while empowering local businesses. This investment into the poultry industry goes beyond Irvine’s by improving our ability to supply and service our growers, thereby empowering them to uplift their communities and drive sustainable economic growth, ensuring that nutritious protein reaches every market we serve.”
Also read: NBK Launches $15.5M Financing Solution for Farmers in Kenya
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