Hatch Africa, a poultry supplier targeting underserved rural households across Africa, raised $9.5M in funding.
The round saw participation from AgDevCo and IDH Farmfit Fund.
The investment into Flow Equity Africa Ventures (FEAV), the holding company for Hatch’s operations in Kenya, Ghana, and Cote d’Ivoire, will scale Hatch’s innovative business model to millions more smallholder farmer households. The company plans to grow its impact six-fold by 2030, increasing the number of chickens sold annually from 45 million to 340 million.
Hatch Africa 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. Hatch chickens are suited to being raised in “backyard” conditions and its customers typically own between 5 and 20 birds each.
Founded in 2010 by Joseph Shields, the company now reaches 4.6 million rural households in Ethiopia, Uganda, and Rwanda, where it operates under the brands EthioChicken and Uzima Chicken. In Ghana and Cote D’Ivoire, Hatch will operate under the brand Premier Poultry and Prestige Poultry respectively. Kenya will adopt the Uzima Chicken brand, which means “full of life” in Swahili.
FinSMEs
29/01/2024