Oikocredit invests in Kenyan fertiliser plant to raise farmers’ yields and incomes
Oikocredit has made an equity investment in Sub Saharan Africa’s first fertiliser granulation and manufacturing plant Fertiplant East Africa. Oikocredit joins the International Finance Corporation (IFC) in funding construction of the plant, which will benefit farmers’ incomes and enhance food security in the region.
The equity investment will help finance the second phase of construction of the fertiliser plant which starts in November 2018, with completion scheduled for September 2019. The plant is being built by Fertiplant East Africa Ltd in Nakuru, in Kenya’s Central Rift Valley and will produce 100,000 tons of fertiliser per year.
The project is expected to create hundreds of jobs both during construction and operation. The completion of the plant will provide the region’s farmers access to affordable and locally produced customised fertiliser combinations, leading to higher crop productivity.
Oikocredit’s Equity Officer for East Africa, Anthony Gichini said: “The decision to support Fertiplant is aligned with Oikocredit’s mission to invest in organisations that can sustainably improve the quality of life of low-income people. We expect Fertiplant’s fertilisers to make a valuable contribution towards improving farm yields and farmers’ incomes, as well as contributing to food security and the region’s economy.”
You can read more about this investment here (PDF).
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