When Hatem Denguezli reflects on Land'Or's beginnings, he speaks neither of luck nor of chance, but of a carefully considered strategic vision. In the early 1990s, then a young veterinarian, he and his business partner identified an opportunity in a still fragmented sector: to build a viable business and progressively move it up the value chain.
"The project has evolved far beyond what we had imagined," acknowledges today the co-founder and Chairman and Chief Executive Officer, Hatem Denguezli. Three decades later, Land'Or is listed on the Tunis Stock Exchange, employs nearly 900 people, and operates industrial facilities in Tunisia and Morocco, exporting to Africa, the Middle East, and North America. This journey illustrates the ability of African companies to position themselves sustainably in regional and international markets.
For Hatem Denguezli, growth has never occurred in sudden spurts, but through successive stages. "We are now in a phase of consolidation and international expansion," he explains. This prudent and resilient trajectory has been shaped by the constraints of the agri-food sector, external shocks, and an uncertain economic environment.
Those shocks emerged early on. In 1996, the outbreak of mad cow disease required rapid strategic repositioning and led to the development of a range of processed cheeses. In 2008, the global surge in dairy raw material prices prompted the company to diversify into products based on dairy and vegetable fats. At each stage, innovation and investment in human capital proved essential levers of adaptation--far more than simple engines of growth.
Hands-on leadership
On Land'Or's factory floors, this commitment takes on a human face: Nadia Etiss, Quality Director, who is present daily on the production lines. "I am very hands-on," she says. "I speak with production managers, quality engineers, technicians, and suppliers. My role is to check products and ensure the consistency of the entire process."
She joined the company with a small team and now supervises more than 60 staff members. For her, quality is inseparable from the human factor. "Performance is built on vigilance, training, and trust in teams," she explains, adding: "With perseverance, as a woman, you can start with very little and go very far. You just have to believe in it." Her message echoes the African Development Bank's priorities on inclusion and the promotion of talent.
Several kilometres away from the factories, another trajectory illustrates Land'Or's impact on its value chain: that of Mouadh Djaied, a veterinarian and founder of SERVET, a milk collection centre partnering with the group. "The role of a collection centre is to preserve the bacteriological quality of milk," he recalls.
Before scaling up its partnership with Land'Or, SERVET faced frequent rejections and significant losses with previous buyers. Margins were thin and investment difficult. "We were barely getting by," he remembers. The gradual increase in volumes delivered to Land'Or--from 10% to nearly 90% of total collection--changed the picture. The centre invested in new equipment, improved procedures, and recruited a quality control engineer. "It has changed my life significantly," Mouadh says candidly, offering a concrete illustration of Land'Or's ripple effect across its local value chain.
Success is rarely built alone. Since 1998, Land'Or has been supported by AfricInvest, a long-term partner of the company. In this regard, the African Development Bank plays a structuring role, having invested €20 million in 2018 in AfricInvest's MPEF IV fund, dedicated to supporting high-potential African private companies such as Land'Or.
Honesty, perseverance, and passion
This combined support--financial, strategic, and technical--has enabled Land'Or to sustainably strengthen its industrial capacity and accelerate its development in regional and international markets, notably in Morocco. Beyond the capital mobilized, the African Development Bank's intervention helps structure local value chains, raise quality standards, and support the creation of sustainable jobs, in line with its private sector development strategy in Africa.
« AfricInvest provided us with significant financial, technical, and moral support," emphasizes Hatem Denguezli. Backed by the African Development Bank, the fund enabled Land'Or to invest with a long-term vision. For the co-founder, the story is far from over: "I believe Land'Or has an even brighter future ahead. The company has accumulated considerable know-how, and we are only halfway through the journey. »
He concludes on a resolutely optimistic note: "Africa is about to take off now." He then addresses young entrepreneurs with a strong conviction: "Three things are fundamental to succeeding in any business: be honest, be persistent, and be passionate".
Thirty years after its creation, Land'Or thus embodies a compelling example of long-term African industrial growth--combining innovation, human capital, and strategic partnerships, notably with the African Development Bank, to deliver sustainable economic and social impact.
