AFRI-FOODS LTD
Description
AFRI FOODS LTD is one of the largest growers and exporters of fresh horticultural produce from Rwanda, servicing some of the largest importers in the UK, Europe, the Middle East, and Asia. In 2021 alone, we exported over 300 tonnes of fresh produce to our customers by air. Our operations activities include cultivating and exporting high quality fresh horticultural produce. At AFRI FOODS LTD, we take pride in the sustainable sourcing of produce, having established partnerships with our farmers/outgrowers and ensure our importers benefit from the carefully selected produce. For this we work with over 500 farmers across Rwanda and 5 Cooperatives. To ensure quality produce, we work closely with reputable smallholder farmers to equip them with the knowledge and skills to meet the highest possible standards of agricultural regulations and procedures. Our goal is to increase farmer household incomes through contract farming, value-added activities, and access to premium markets. Afri Foods is woman owned and sources from more than 500 farmers and 5 cooperatives across the country, 70% of whom are women.
Market Opportunity/ Problem
There is significant growth in the export value of high-value crops (Chilli, French Beans, Mushrooms, and Passion fruits), expected to capture 3% of the EU market by 2024. High-value crop yields are expected to increase by 20% as well as the area planted to produce the target volumes. Other horticulture crop exports are expected to grow linearly, both in volume and value at the historical growth rates. Rwanda has the perfect conditions for growing the finest organic fruits and vegetables: nutrient-rich volcanic soils which have never been exposed to pesticides or other agri-chemicals, plentiful rain, equatorial sunshine, cool high-altitude climate, and small-scale farmers dedicated to growing fresh produce (and hence attracting premium prices). The processing of those crops, however, is still limited in order to reduce post-harvest losses and add value to them.
Company Information
Years of operation
3
Type of organization
Private company
Stage of the business
Growth stage
Agribusiness focus
Value addition/ processing
Agriculture value chain(s) focus?
Cash Crops
Primary country of operation
Rwanda
Other country(ies) of operation
N/A
How many employees does your business have?
16 permanent staff, 60 casual staff at the packhouses and around 50 to 100 casual workers at our farms
Does the business have more than 30% women ownership?
Yes
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
$1,200,000
What is the split between equity and debt?
87,000 USD, Bank, Debt