Hatch Africa Raises $9.5m from AgDevCo and IDH Farmfit Fund to Expand High-growth Poultry Business in Sub-Saharan Africa
Summary
, /PRNewswire/ -- , a rapidly growing, high-impact poultry business targeting underserved rural households, has secured a combined investment with participation from AgDevCo and IDH Farmfit Fund.The investment into Flow Equity Africa Ventures (FEAV), the holding company for Hatchs operations in , , and , will scale Hatchs innovative business model to millions more smallholder farmer households.purpose is to make farmers healthier and wealthier. The company distributes dual-purpose breeds of day-old-chicks through a large network of agents, who rear the birds to maturity at around five weeks before selling them to smallholders. will adopt the Uzima Chicken brand, which means "full of life" in Swahili.Co-founder said, "We couldnt achieve the scale of impact and commercial progress is making without the support of committed, long-term investors like AgDevCo and IDH, who understand our markets and can provide flexible financing that suits our needs. We look forward to working with the management team to deliver more impact, including higher incomes and improved nutrition for rural households, across East and . IDH Farmfit Fund takes on the highest-risk positions in farmer related investment transactions, to reduce liabilities for borrowers and lenders.