African Venture Capital Association 9 May 2013
Injaro Agricultural Capital Holdings Limited (“Injaro”) announces an investment in Cote d’Ivoire’s poultry sector. Injaro has signed an agreement to invest in Proveto SA (“Proveto”), an important local poultry inputs supplier in Cote d’Ivoire. Proceeds of the investment will be used to fund Proveto’s development plans that were stalled two years ago during the political crisis in Cote d’Ivoire. In supporting Proveto, Injaro aims to improve the capacity, quality and efficiency of the company’s production in order to promote food security in the region.
Proveto has been in operation in the Ivorian poultry sector for over a decade and aims to become the preferred one-stop input shop for small and medium scale poultry farmers. The Company’s product portfolio contains inputs for broiler production i.e., day-old chicks, starter feed and veterinary products.
The poultry sector is an important off-taker of maize, soya and cottonseed-cake. As such, Proveto’s expansion will provide a ready market for smallholder farmers. Additionally, the Company’s facility will employ additional local staff and produce natural fertilizer for neighboring farms.
Dr. Albert N’Guetta, CEO of Proveto stated, “We are delighted to receive the advice and capital infusion from Injaro. Through this close partnership with Injaro, Proveto will develop an enduring asset base and adopt modern technology and processes in order to make the Company more competitive and profitable. Further, Proveto will be able to consistently provide high quality products and services to poultry farmers”
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