21 August 2014

Kenya: Fanisi Invests Sh220 Million in Meat Plant

Fanisi Capital has announced an investment of Sh221 million in Rumuruti based Ngare Narok Meat Industries, a leading supplier of beef in Laikipia.

The meat processor aid the investment will create 75 direct jobs within Rumuruti, and another 150 in-direct jobs along the livestock value chain in Samburu and Laikipia regions.

The cash injection will also be used to finance Ngare Narok's expansion into value added products, and utilisation of abattoir by-products.

"This will motivate the suppliers of raw hides, and skins and pastoral communities who mostly sell their cattle at the weekly auction in Rumuruti and other surrounding markets," the Ngare Narok chairman Ndiritu Muriithi said at the Fanisi offices.

He said the company can now increase the number of animals it handles daily and diversify its product range including the manufacture of an organic compound fertiliser from abattoir waste.

Fanisi managing partner Tony Wainaina said that the company's commitment to investing in growth- oriented small and medium size companies enables them to offer structured finance options. The structure of the deal as part equity and part musharaka or partnership.

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