24 Mar SEAF Invests in Hill Animal Feeds in Tanzania
Investment will power up Hill to increase production of its animal feeds line
DAR ES SALAAM, TANZANIA – The Small Enterprise Assistance Funds (“SEAF”), a global impact investment manager, has invested into Hill Animal Feeds & Agrovet Supplies Company, Limited (“Hill Animal Feeds”), a leading animal feed manufacturer in the Dar es Salaam region of Tanzania. The investment will go toward working capital to support an increase in production for its poultry feed line. The company expects to increase production by 15 percent. Additionally, SEAF is providing Hill Animal Feeds with support services including technical assistance and farmer training in order to help the company scale. The company currently serves approximately 1,800 farmers and expects to reach at least 30 percent more poultry farmers over the course of the next two years.
SEAF’s funds are provided by the U.S. Department of Agriculture, through the Food for Progress program. The Food for Progress program helps developing countries and emerging democracies modernize and strengthen their agricultural sectors. The program has two principal objectives: to improve agricultural productivity and to expand trade of agricultural products.
Hill Animal Feeds, a family owned business, was initially established to manufacture and sell customized animal feeds to meet the specifications of its customers, primarily smallholder poultry farmers. As the Company expanded, however, Hill Animal Feeds began producing its own recipe, gradually reducing its customization services. The Company now offers poultry feed products, including feed for broilers and layer birds, as well as veterinary services to its customers. In recent years, the founders have implemented a long-term strategy that has more than doubled the Company’s production capacity and resulted in an expansion into pelletized animal feed, as well as the launch of a soybean meal production line – a key animal feed ingredient.
“Over the years, Hill Animal Feeds has developed a reputation for quality feed and for its commitment to product innovation and human capacity development,” says Ezra Musoke, Managing Director of SEAF’s Tanzania office. “The Company is led by a very strong management team who are truly committed to constantly improving their manufacturing processes to produce a high-quality product at an affordable price. And as an impact investment fund manager, we’re especially impressed by the value-added vet services they provide farmers as well as training for their employees.”
Currently, Hill Animal Feeds is one of the largest producers of animal feed in Tanzania, with 75 full-time employees. As the Company continues to execute its long-term strategy and increase its production capacity, SEAF’s investment will provide financial and technical assistance resources to support the Company’s continued efforts in achieving its growth objectives.
Hill Animal Feeds currently serves Tanzania’s coastal and central regions but expects to expand to other parts of the country.
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About Hill Animal Feeds: Hill Animal Feeds & Agrovet Supplies Company Limited is one of the leading animal feeds manufacturer companies in Tanzania. The Company was incorporated in 2006 under companies` Ordinance Cap of 202. The Company`s principle activity is to manufacture animal feeds based on its own mixing ratios and formula which has been clearly researched by the Company. In addition, the Company has customized options where customers have preference of placing orders of the products based on their own mixing ratios which meet their needs and requirements. For more information on Hill Animal Feeds & Agrovet Supplies Company, Ltd., please visit http://www.hillgroup.co.tz/hill-animal-feeds-aggrovet-supplies-ltd
About the Small Enterprise Assistance Funds: SEAF is an SEC registered investment adviser to international private equity funds through which it has invested growth capital and provided business support to growth-oriented SMEs in frontier and emerging markets. Having made more than $400 million in SME investments across a wide range of sectors, SEAF funds identify and support promising entrepreneurs while seeking to provide attractive returns to its investors. SEAF manages its funds through a network of 25 offices around the world, with its headquarters in Washington, D.C. SEAF also operates the Center for Entrepreneurship and Executive Development – CEED – an entrepreneur-focused program that provides advisory, mentoring, and networking opportunities across 13 global locations. seaf.com and ceed-global.org.