A USD18 million financing agreement signed between Norfund and Irvine’s Group has been unveiled in a bid to scale operations in high-impact poultry initiatives in Sub-Saharan Africa.

The strategic deal between the two institutions seeks to enhance food security and scale sustainable poultry operations in Kenya, Tanzania, Botswana and Mozambique.

The venture in Irvine’s Group’s holding firm for its operations, Buchan Ltd in the four countries will enable the poultry breeder and supplier of broiler Day-Old Chicks (DOCs) and high-quality poultry feed across Sub-Saharan Africa to scale operations further in East Africa.

The pact will see the Group partner with Cobb to set up an ultra-modern grandparent farm in Tanzania to breed parent stock and help cut the importation timeline and logistical challenges to increase the competitiveness and reliability of the supply chain across Africa.

Norfund Regional Director, East Africa, William Nyaoke, says the deal will foster sustainable food systems and food security to grow agribusiness and drive Africa’s economic prosperity.

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“By scaling production capacity and strengthening the local supply chains, Norfund’s investment will improve their capability to serve more smallholder farmers and create new jobs for East Africa’s fast-growing youth population,” stated Nyaoke.

Irvine’s partnership with Norfund seeks to increase feed and chick production, technical assistance, and broader distribution networks as well as procurement of essential grains.

“These funds will fuel the next chapter of our growth, enabling us to continue driving our purpose of changing lives in Africa by providing accessible, high-quality protein while empowering local businesses,” added Irvine’s Group CEO Craig Irvine.