Hatch Africa is spreading its wings, securing a whopping $9.5 million in funding to revolutionize poultry supply in underserved rural communities across Africa. In a recent funding round, heavyweights like AgDevCo and IDH Farmfit Fund joined forces to propel Hatch Africa into a new phase of growth.
This financial injection is set to propel Flow Equity Africa Ventures (FEAV), the holding company overseeing Hatch’s operations in Kenya, Ghana, and Cote d’Ivoire, to new heights. The company’s ambitious plan is to scale its innovative business model to reach millions more smallholder farmers, with a vision to increase the annual sale of chickens from 45 million to a staggering 340 million by 2030.
What sets Hatch Africa apart is its strategic distribution of dual-purpose breeds of day-old chicks through a widespread network of agents. These agents nurture the chicks to maturity in approximately five weeks before making them available to smallholders. The beauty of Hatch chickens lies in their adaptability to “backyard” conditions, catering to customers who typically own between 5 and 20 birds each.
Joseph Shields, the visionary behind Hatch Africa who founded the company in 2010, has steered it towards making a meaningful impact. Currently operating under the brands EthioChicken and Uzima Chicken in Ethiopia, Uganda, and Rwanda, Hatch Africa reaches a commendable 4.6 million rural households. As it expands into Ghana and Cote d’Ivoire, it will embrace the names Premier Poultry and Prestige Poultry, respectively. Meanwhile, Kenya will resonate with the Uzima Chicken brand, symbolizing “full of life” in Swahili.
The heartbeat of this funding news echoes a commitment to transformative growth, with Hatch Africa aiming to empower even more communities and farmers. The goal is not merely financial expansion but a genuine effort to bring about positive change in the agricultural landscape of Africa. The Hatch Africa Funding is not just an investment; it’s a catalyst for a poultry revolution, a pledge to create sustainable livelihoods, and a roadmap to nourish rural economies.