Mixed farm enterprise using environmentally friendly innovations and a vibrant network of farmers
Year of establishment: 2000 (formally registered 2008)
Turnover 2016: 670,000 USD (2015: 600,000 USD)
Investment need: 285,000 USD
Product, market and potential
The company started out trading in cereals such as maize and sim sim and then expanded into livestock and fish farming in ponds and cages as well as production of fish fry. The Company are currently the largest fish farm in Northern Uganda and supply fish to South Sudan, Western Kenya, Eastern Congo and Rwanda. The fish farm provides over 70% of the Company revenues and this is complimented with revenues from grains and livestock. The current market demand for fish outstrips the supply with customers requiring over 10 tonnes per week while the Company produces only 10 tonnes per month whilst utilizing only 20% of current capacity.
Entrepreneur and Team
The Company was founded by two youth who were looking to make a difference in the lives of farmers by offering fairer prices than the middlemen. They have since won national farming awards for their excellence in farming and are certified by the National Bureau of Standard. The Company has in the past gotten technical assistance from PUM experts to improve their farming methods.
The Company’s revenue has grown steadily over the years with year on year growth of over 20% for the last four years. The Company is looking to raise debt financing to modernize its facilities, equipment and working capital. The largest cost in fish farming is the fish feeds so the company is looking to procure fish feed pelletizing machines to produce their own cheaper and better quality feeds. The Company is also looking to install a solar pump to improve water flow in the fish ponds. Part of the investment will go towards working capital to increase stocks of fingerlings. The Company is also looking to upscale it’s youth and farmer training programs focused on commercial farming to ensure a sustainable relationship with the communities they work with.
The project will provide training in commercial farming for approximately 2,000 youth and 12,000 local farmers that the Company in already working with in the the different value chains it’s involved in.