Nigeria’s agritech startup, Farmcrowdy, has introduced its acquisition of Greatest Meals L&P Restricted, considered one of Nigeria’s largest meat processors.
For an undisclosed quantity, the acquisition will see Farmcrowdy personal majority stake in Greatest Meals together with its belongings, staff and buyer contracts to produce meat throughout the nation.
This may even allow Farmcrowdy to supply a wider livestock manufacturing and processing resolution to Nigeria’s meat market the place according to government estimates, 360,000 tonnes of beef are consumed annually.
With over 16 years in operation, Greatest Meals is credited as one of many largest meat processors in Lagos with a capability to course of as much as 200 bulls each day and is greatest recognized for these ventures– Greatest Meals Livestock and Poultry, Greatest Meals Recent Farms, and Naijapride.
Emmanuel Ijewere, founding father of Greatest Meals, who might be becoming a member of Farmcrowdy as a member of the advisory board mentioned, “This take care of Farmcrowdy is a welcome improvement for us because it gives a serious development alternative for each companies. We’re excited concerning the many potentialities.”
Farmcrowdy was based in 2016 and has since developed a prowess in adapting know-how to agriculture. The digital crowd-funded agriculture platform introduced throughout its $1 million additional seed round final yr that it deliberate to assist obtain meals safety in Africa.
Not solely will buying Greatest Meals broaden Farmcrowdy’s enterprise, it is going to additionally assist the startup obtain its goal of meals safety by offering high quality meat to shoppers.
Farmcrowdy’s managing director, Kenneth Obiajulu, tells Techpoint that “in contrast to the form of meat current in most Lagos abattoirs, you possibly can’t assure if the meat they promote is protected for consumption.
“Nevertheless, we have now a meat hygiene certificates from the state authorities which signifies that each meat that comes from Farmcrowdy has been processed underneath hygienic consumption and is protected for consumption. Buying Greatest Meals was achieved so we may course of extra protected meat and get it throughout to extra individuals.”
To offer high quality meat for shoppers, Farmcrowdy plans to enter the meat retail market with the launch of Farmcrowdy Meat Hubs throughout Lagos within the second quarter of 2020.
Onyeka Akumah, Farmcrowdy’s founder and CEO, mentioned “anticipate extra collaborations and offers like this to develop the agriculture sector however extra importantly for us in Farmcrowdy, we’re completely happy to now make plans to launch our Farmcrowdy meat hubs the place daily individuals can sponsor livestock farms on Farmcrowdy.”