Investment by African Agricultural Capital Fund
Biyinzika Poultry International Limited’s (Biyinzika) primary business is the sale of day-old chicken in Uganda supported upstream by hatcheries and downstream by the processing and sale of poultry feeds. The business has been in operation since 1991 during which time it has established itself as a market leader in the day-old- chicks sector with over half of the market share.
Pearl Capital Partners through the African Agricultural Capital Ltd (AAC) made an initial loan to BEL of US$ 800,000 in 2006 and a further loan of US$ 400,000 in 2009, facilities which Biyinzika fully paid up in 2011. PCP therefore played a key role in getting the business to its current strength and size.
Biyinzika is now in the process of widening its downstream activities so as to become the leading integrated poultry company in Uganda. This is by expanding its production of poultry feeds and production and sale of mature poultry. Together with our co-investor, Voxtra East Africa Agribusiness Fund, our investment of US$ 4.0m is to finance the installation of grain storage facilities and a feed mill which when running will provide quality poultry feeds to the increasing numbers of Ugandan and regional smallholder farmers who are rearing day-old chicks. 8 Miles made a further investment in 2014.