Invests in Women-owned Poultry Company in Tanzania
Summary
The transaction fits SEAFs investment criteria in Tanzania, which focuses on supporting key agriculture value chain actors, including intermediaries and input suppliers, in order to improve productivity and economic opportunity among small-scale farmers. AKM Glitters also rolled out a new distribution model that includes a wide network of primarily women-owned businesses that are trained to rear day-old chicks until 4 weeks old. These businesses, known as Mother Units, then sell the chicks, feed and other items to small-scale farmers.By working with mostly female distributors in rural areas, we are able to support them in growing their own businesses as well as reach rural farmers and give them access to a high-quality breed of chicken and feed, says Elizabeth Swai, founder and CEO of AKM Glitters Company, Ltd. With SEAF, we know we have a partner that shares our commercial and development mission and will support us as we grow and expand our business.The Company expects to at least double its current production of poultry feed to align with the expansion of the day-old chicks brooder units. Between 2005 and 2015, egg consumption per capita increased from 46 to 78 annually, while the consumption of chicken increased by 44 percent.About the AKM Glitters Company, Ltd.:AKM Glitters is a leading company in Tanzania providing quality, efficient and effective services to chicken farmers to unlock potentials for growth and competitiveness in rural as well as urban areas while contributing to the economic growth of the country. Having made more than $550 million in SME investments across a wide range of sectors, SEAF funds identify and support promising entrepreneurs while seeking to provide attractive returns to its investors.