Apinec Agro-Industry plc
Description
Apinec is established in South-West Ethiopia with 67 hectares of nuclear farm plots dispersed in 3 forest farming communities for sustainable forest resource management using improved marketing system, productivity, quality, and value addition of non-timber forest products, especially organic honey and forest coffee.
Market Opportunity/ Problem
Currently, the country can produce over 500k tons of honey and 50k tons of beeswax. However, only 10% of the country’s potential is tapped. This is mainly attributed to the use of outdated and unproductive technology. In recent years, the government has given more focus to the subsector to improve and address bottlenecks that continue to hamper its growth.
Company Information
Years of operation
12
Type of organization
Private company
Stage of the business
Early stage/ startup
Agribusiness focus
Value addition/ processing
Agriculture value chain(s) focus?
Livestock
Primary country of operation
Ethiopia
Other country(ies) of operation
N/A
How many employees does your business have?
23
Does the business have more than 30% women ownership?
No
Does the business have more than 30% youth ownership (under 35 years)?
No
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
$500k – $1m
What is the split between equity and debt?
60% debt and 40% equity