A $225,000 debt investment by AgDevCo, renowned social impact agribusiness investor, is ready to help Kingchick Poultry in Tanzania.
Kingchick Poultry was established back in 2010 by Rose Sweya and since then the company is known for the production of broiler chickens consumed in Tanzanian local market. One of the main contributions of Kingchick had been to support food security in Tanzania by providing a good source of protein at suitable rates.
Kingchick is eying on modernizing its infrastructure to expand its production by using the investment which is announced by AgDevCo.
Kingchick Poultry’s main objective is to provide safe food, improve quality control system, and increase the sales across Tanzania through an efficient distribution system across the country.
Nick Jones, the Associate Director of AgDevCo is confident of Roses’ motivation, devotion for the improvement of the business, quality of the product and services. Nick is eyeing on working with Rose to help her achieve all the business targets.
Earlier, Kingchick started with a small investment of just 200 broilers per cycle. Within last 6 to seven years, this number has reached to 130,000 boilers per cycle.
The investment from AgDevCo will enable Rose to improve the management and bring efficiency to the governance of Kingchick.
AgDevCo has already invested in patient capital, both in the form of debt as well as equity and has used UKAid program to help the sub-Saharan Africa’s agribusiness.
At the moment, AgDevCo has invested in 11 different companies in Tanzania with a total of more than $24 million. This investment has generated 2,256 new jobs and helped nearly 6000 farmers to reach the market.