Kenyan company, Sidai Africa Ltd, has secured a US$2.25 million investment from global agri-technology company, Devenish.
Sidai Africa Ltd supplies crop and livestock products and services to farmers throughout Kenya with a unique ‘last-mile’ delivery service model which enables the company to reach farmers in some of the country’s most remote areas.
In Africa, up to a quarter of livestock die each year due to preventable diseases and poor nutrition. By improving access to good quality livestock products and services, Sidai helps farmers keep their herds healthy, which in turn helps to increase incomes and financial security.
The investment by Devenish will enable Sidai to further expand its distribution network, launch new products, and reach even more farmers across Kenya. Founder of Sidai, Dr Christie Peacock CBE, explains: “Sidai was established in 2011, with the support of the Bill and Melinda Gates Foundation to open up access to quality farm inputs and services for those farming in remote underserved locations.
“From a standing start, we’ve grown significantly over the past eight years and now have 11 stores, 87 franchisees and sell through a further 1,500 stockists. Sidai directly employs over 120 people and reaches over 300,000 farmers. Our mission is to enable every small-scale farmer in Kenya to produce food in a predictable and profitable way, and this investment will help us to achieve our goals.”
The investment is part of Devenish’s ambitious long-term growth strategy in emerging markets. Peter Wallace, Executive Vice-Chairman of Devenish, said: “We’re thrilled to announce our investment in Sidai. As a business, we are particularly focused on sustainable farming and food production and this new partnership will enable us to make a difference by improving the livelihood of small-scale farmers and pastoralists across Kenya.
Michael Maguire, East African Director, Devenish adds: “Sidai has already had a very positive impact on the local farming community, and I hope that with this investment, coupled with our commercial input, innovation and nutritional expertise, we can help the company to grow further and reach even more farmers and pastoralists across Kenya.”
Anthony Wainaina, Managing Director of Sidai says: “It is great news that a company with Devenish’s international reputation and experience is investing in Kenya’s agriculture sector. I am delighted that Devenish has shown such confidence is Sidai’s business model and shares the company’s mission to enable the farming community in Kenya to produce food in a predictable and profitable way.”
Nicolas Mounard, Chief Executive Officer, Farm Africa said: “The deal means better, more affordable agricultural inputs and veterinary services for some of the world’s most neglected and under-served farmers, more jobs in agribusiness and, ultimately, more prosperous rural communities.”
Richard Macdonald CBE, Chair, Farm Africa adds: “I am absolutely delighted that Devenish, a company with compelling business values and the motivation to support farmers in eastern Africa, is taking a significant stake in Sidai.
“Farm Africa started Sidai and helped grow it into the sustainable enterprise that it is today. Devenish will supercharge Sidai’s growth, bringing world-class animal nutrition expertise to the Kenyan market. The deal is excellent news for both Devenish and farmers working across Kenya, more of whom will gain access to life-changing services and products.”
Image Credits: Devenish