Bestlay Country Egg was incorporated in Lusaka, Zambia on May 2016 by key Zambian entrepreneur Mr. Patrick Bobo. Following which, he approached GroFin Zambia for finance and support for his start-up agri-processing poultry business.
Patrick has worked for 21 years as an accountant, audit senior, chief internal auditor, chief accountant and operations manager for various companies (public and private). His rich experience and qualifications supplemented by his full-time involvement in the start-up operations form a good foundation for the fledgling business.
Supporting the Zambian entrepreneur’s vision for growth
Patrick approached GroFin Zambia for finance and support so that he could commence his business operations and start market production. The GroFin funding of ZMW 1,945,620, or USD 204,879, has been applied towards plant & equipment and working capital.
To help with the start-up’s operations, GroFin will assist in the company’s business planning and supporting activities, with focus on company formalisation, sales & marketing assistance, operations support & technological support. Besides, GroFin will help the business to secure local goodwill by helping it generate community impact based on adherence with environmental, social & corporate governance (ESG) factors.
A sustainable start-up business model
From a viability perspective, poultry products in Zambia are one of the most affordable and sustainable form of animal protein, thereby ensuring continued demand and investment potential in this sector. Agri-processing being a sector of focus for GroFin, this business serves as an attractive opportunity for GroFin to add value to the local community by ensuring food security, even as funding a start-up, perceived as carrying a higher risk profile, shows GroFin’s strong commitment to the SME sector in Zambia.
To illustrate the significant business impact sought to be achieved, with an initial investment in 10,000 birds and an expected 90% production rate of eggs per day, the funding is expected to help increase production growth rates by 20% in the first year and up to 50% in the fifth year, as the poultry houses reach their total holding capacity of 24,000 birds.
Making a positive community impact in Zambia
The immediate local/community impact in the surrounding Lusaka region will be the employment of 12 people, including 2 women, in turn improving the lives of some 60 individuals. Additionally, since most eggs are purchased wholesale for onward sales, this in turn creates additional opportunities for other individuals, especially women, who generally carry out sale of eggs in public markets.