Description
SODEVOL is based in the Anambe Bassin in Kolda, Senegal. There are 5,000 ha of land to potentially grow rice in Anambe Bassin over 2 seasons. The company is working to develop a rice production and transformation project. The project aims to implement a modern rice mill with a capacity of 20,000 tonnes of paddy rice. 70% of the paddy will come from smallholder farmers while 30% will come from SODEVOL’s production. In addition, SODEVOL will produce, condition and market certified rice seeds.
Market Opportunity/ Problem
Rice consumption in Sub-Saharan Africa is among the highest in the world. In Senegal, rice is a major part of food consumed. This cereal is present in all meals and consumption amounts to 74 – 90 kg/person/year. In 2018, the production of white rice accounted for 38% of the total market and the volume of imports accounted for 62% of the total. However, Senegal has the necessary conditions to be produce rice over the two seasons in order to achieve rice self-sufficiency. The project aims to improve farming practices in order to maximise rice production.
Company Information
Years of operation
4
Type of organization
Private company
Stage of the business
Early stage/ Startup
Agribusiness focus
Other
Agriculture value chain(s) focus?
Food crops
Primary country of operation
Senegal
Other country(ies) of operation
Gambia, Guinea, Mali, Guinea Bissau
How many employees does your business have?
4 permanent employees and more than 10 part-time employees
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$)?
>1m
What is the split between equity and debt?
25% equity, 75% debt