Norfund Invests $18M in Irvine’s Production of Chicken in 4 African Countries

Date:

Share post:

  • 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.

Norfund boost Irvine's production of chicken in Africa.
Norfund has invested in Irvine’s chicken production and chicken feed in Tanzania, Kenya, 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.

Join over 10k partners and investors in Africa in our weekly emailing subscription list

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.

Join over 10k partners and investors in Africa in our weekly emailing subscription list

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

NBK Launches $15.5M Financing Solution for Farmers in Kenya

Subscribe to our weekly newsletter and get industry reports and deals happening in Africa.

Other stories you may like

Related articles

AFC and CEXIM Strengthen Partnership to Drive Trade and Infrastructure Growth across Africa

AFC and CEXIM have partnered to drive trade and infrastructure growth across Africa To date, AFC has...

Tony Elumelu Foundation Signs $6m Partnership to Empower African Entrepreneurs

Tony Elumelu Foundation has secured a US$6 million UAE partnership to boost 1,000 African entrepreneurs This partnership...

AfDB’s Climate Action Window Channels $31m to Boost Climate Resilience in Four Countries

African Development Bank’s Climate Action Window has channelled US$31 million to boost climate resilience in four countries...

US Scraps $17m Tax Policy Project for Liberia Amid Spending Concerns

The US through DOGE has cancelled a US$17 million project that was to provide tax policy advice...