KENYA – Norfund, a development finance institution established by the Norwegian Storting, has committed US$18 million to Irvine’s Group to expand chicken and feed production across Kenya, Tanzania, Botswana, and Mozambique.
The investment aims to support the development of a new grandparent poultry farm and feed mill in Tanzania, alongside a hatchery in Kenya.
This initiative is expected to create new jobs, increase production capacity, and reduce dependency on imported poultry products, bringing the business closer to local markets.
During the announcement in Nairobi, Norfund’s Regional Director for East Africa, William Nyaoke, said the partnership reflects Norfund’s ongoing efforts to enhance food security in Sub-Saharan Africa by strengthening sustainable agricultural businesses.
He added that both Norfund and Irvine’s share the same goal of boosting the agribusiness sector in Africa to support economic growth.
The official partnership announcement took place in Kenya on September 18, 2024, attended by Norwegian Ambassador Gunnar Andreas Holm, US Embassy Agricultural Counsellor Tret J. Bret, Irvine’s CEO Craig Irvine, Board members David Irvine and Donnie Smith, along with Norfund Vice President Andreas Davidsen and William Nyaoke.
The move comes as Kenya’s poultry market continues to grow.
According to the Food and Agriculture Organization (FAO), around 50 million birds are slaughtered in Kenya each year, with 92.6% of the population consuming chicken regularly.
FAO-Kenya analyst Stephen Gikonyo noted that chicken and egg consumption is expected to increase significantly, with poultry meat consumption projected to rise to 92,000 tonnes and egg consumption to 245,000 tonnes by 2050.
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