Injaro Investments invests in Niger’s poultry sector
Injaro Investments is pleased to announce an investment in AviNiger, a poultry farm built with stringent specifications to cater for animal welfare and supply quality consumer eggs to reduce the deficit of protein foods in Niger.
Injaro co-invested with BIO, the Belgian Investment Company for Developing Countries, to build a state-of-the-art eggs production farm with an annual capacity of more than 35 million eggs. This investment would make AviNiger the largest egg producer in Niger. Powered by solar energy, the farm will produce more than 2,000 metric tons of manure that will be distributed as fertilizer to farmers. The investment features a 30,000 MT feed mill that will supply other forms of feed aside from poultry feed. Animals starve to death during the dry season in the country and AviNiger shall supply feed beyond its own need and provide a market for smallholder farmers producing sorghum and maize.
Commenting on the investment, Guy Van Kesteren, CEO of AviNiger, said ‘’we are delighted to partner with Injaro and BIO. Their support is a validation of our plans to profitably supply the Nigerien market with affordable and quality consumer eggs.’’
Niger counts 21 million people and is growing. The country is regularly under the threat of famine and needs to address that issue. Dadié TAYORAUD, Chief Operating Officer (COO) of Injaro Investments added: ‘’Niger continues to import eggs that can be locally produced. This investment will provide an answer to the deficit of protein foods and contribute to food security while hopefully creating value for our investors”.
Layers coops are built to international standards to account for animal welfare. Co-investor in the business, BIO—the Belgian Development Finance Institution, played a key role in setting the standard by which investments have to be approached in Africa. Dimitry Van Raemdonck, Manager at BIO, said: ‘’we are very proud to be part of this ambitious project in which AviNiger will cost effectively produce eggs while adhering to very strict environmental and social standards. We don’t believe in sub-par endeavours for the continent and hope this company will inspire entrepreneurs in Niger and beyond.’’
About Injaro Investments
Established in 2009, Injaro Investments is an Africa-focused investment manager that manages IACHL (Injaro Agricultural Capital Holdings Limited) a US$49mn impact investment fund, which is almost fully deployed, targeting the agricultural value chain in West Africa. Injaro provides capital, business advice and capacity building to high potential SMEs to enable them achieve ambitious growth objectives. Injaro is led by a management team with extensive business experience and deep local knowledge.
IACHL’s investors include CDC, via its DFID Impact fund; FMO, via its MASSIF Fund; and PROPARCO, via its Investment and Support fund for Business in Africa (FISEA). Cornerstone investors for the Fund include the Lundin Foundation, the Soros Economic Development Fund (SEDF) and the Alliance for a Green Revolution in Africa (AGRA). The Fund’s other investors include family offices based in North America and Europe.
BIO is the Belgian Investment Company for Developing Countries. BIO’s mission is to support a strong private sector in developing and/or emerging countries, to enable them to gain access to growth and sustainable development within the framework of the Sustainable Development Goals. Source: AVCA