Horticulture in Reality Corporation Ltd(HoReCo)
Description
HoReCo produces Irish potato seeds to reduce the gap in availability of improved, supporting the seed value chain as well as youth and women employment in Northern province of Rwanda. HoReCo produces the eeds on 50 hectors of land. HeReCo produces 600 tonnes of seeds per year.
Market Opportunity/ Problem
Rwanda needs 35,000 tonnes of quality Irish potato seeds per year with an undersupply from local seed producers. This causes farmers to use thier own seeds which yield nearly half compared to the improved seeds. There is also a market Congo, Burundi and parts of Uganda as farmers come to buy irish potato seeds in Rwanda and are willing to pay higher prices.
Company Information
Years of operation
7
Type of organization
Private company
Stage of the business
Growth stage
Agribusiness focus
Primary production
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?
70
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$)?
$2,000,000
What is the split between equity and debt?
70% debt and 30% equity