ZAMBIA – JR Farms Limited, an agribusiness venture undertaking food processing, agro-commodity trading and agro-consultancy in Africa has injected about US$500, 000 in the establishment of a stock feed-processing plant in Zambia.
The facility which is expected to be operational in the first quarter of this year, will focus on producing affordable livestock feed for poultry, cattle and goats among others.
It will have a processing capacity of 20 tonnes per hour and avail 600 direct and indirect jobs for the local people in Makeni, Lusaka, reports Daily Mail Zambia.
“As part of the project component, we will develop a poultry out-grower scheme that will greatly impact the livestock sector in Zambia through increased production, thereby positioning Zambia as a leader in livestock production for the benefit of the nation,” said Chief Executive Officer JR Farms, Olawale Opeyemi.
Poised to connect the dots in the agric sector, JR Farms has agribusiness operations in Nigeria, Rwanda, USA and Zambia.
In Zambia, the company operates in the cassava value chain to produce and promote cassava staple in the country.
While in Nigeria, the company undertakes cassava processing to produce the national staple “garri” which is consumed by over 80 million Nigerians on daily basis.
In Rwanda, JR Farms processes, packages and exports coffee to various parts of the world. They work with over 4000 coffee farmers spread across the country.
The company has trained several young Africans in farming and agribusiness through various initiatives; one of such initiatives is the Inmates Farming Scheme in Nigeria where prisoners were trained in vegetable farming.
In July 2020, it launched Green Agribusiness Fund, a funding initiative designed to invest in youth-led agribusinesses in Africa. The initiative was piloted in Nigeria and Rwanda.
Amidst the economic challenges posed by COVID-19 pandemic, JR Farms’ valuation has grown to US$5 million as the company consolidates growth in its operations in Africa.
This was revealed in a recent valuation report where the company’s historic financial statements, statements of financial performance and assets were evaluated to reveal its true economic potential and earning power.
Some of the recent developments that have taken place in the organization include partnering with Zambia National Cassava Association on commercial cassava processing in Zambia, to produce High Quality Cassava Flour (HQCF), Starch, Ethanol, among others.
In addition, the firm renewed its partnership with Rwanda Farmers Coffee Company after two years of working together in the coffee sector since 2018.
Through this partnership, JR Farms Africa has exported coffee to eight countries, with 90 percent of the export shipped to West Africa.
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