September 20, 2024
Through an investment in the chicken producer Irvine’s, Norfund aims to create jobs while contributing to food security on the African continent.
Norfund is investing 18 million USD in Irvine’s production of chicken and chicken feed in Kenya, Tanzania, Botzwana and Mozambique.
“Poultry production is an effective contribution to increased food security while providing income that contributes to alleviating poverty. Investments like this, in agriculture and local food supply chains, stimulates growth and is crucial for food security and self-sufficiency,”
said Anne Beate Tvinnereim, Norwegian Minister for International Development.
Chicken and eggs are an available and relatively affordable source of protein. A fast-growing population increases the demand in many African countries.
Selling day-old chickens to smallholder farmers
Irvine’s hatches and sells chicken and feed to smallholder farmers, which accounts for 70% of the chicken production on the African countries. They also provide technical assistance and training to smallholder farmers, of which 70% are women.
“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 their capability to serve more smallholder farmers and create new jobs for East Africa’s fast-growing youth population,” said William Nyaoke, Norfund’s Regional Director.
Feed mill based on locally produced mays and soybeans
The investment will finance a modern grandparent farm and a feed mill in Tanzania, as well as a hatchery in Kenya. 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 mill will procure maize and soybeans from local farmers, providing further income and strengthening regional agricultural value chains.
Irvine’s is a well-established actor in the industry with over 60 years of experience.
“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 but also drive sustainable economic growth, ensuring that nutritious protein reaches every market we serve,” said Craig Irvine, Group CEO of Irvine’s Group.
