Eos Capital partners with AVPP and Oyeno Poultry in a step towards self-sustainable protein production in Namibia

Eos Capital has partnered with Africa Venture Partner Projects (AVPP) and Oyeno Poultry Industries (Oyeno Poultry) to invest in Kadila Poultry Farming (Kadila Poultry) through its Euphrates Agri Fund (Euphrates), the only private equity agriculture fund in Namibia. Kadila Poultry will construct a 6-house broiler farm between Windhoek and Okahandja with the capacity to produce 400 tons of poultry meat per month.

Oyeno Poultry, a Namibian-owned SME and the main sponsor of this project, has been a key player in the poultry production sector since 2019. Their journey, starting in northern Namibia and now expanding through Kadila Poultry, is a testament to the potential for local businesses to thrive. Euphrates, managed by Eos Capital, recognised this potential and subsequently supported this project in line with the firm’s mission to empower local SMEs.

Namibia currently imports between 2,000 to 2,500 tons of poultry per month. Kadila Poultry, with its expected production of 400 tons per month during phase 1 and the intention to double production in phase 2, is a significant step towards reducing this reliance. This investment underscores Eos Capital’s commitment to improving the country’s food security and reducing the need for imports.

Anthony Shipoke, co-founder of AVPP commented, “The Kadila project is a highly important project of national interest, as it is a sustainable way of bringing together different role players to ensure self-sustainable protein production, as Namibia consumes more kg poultry per capita than any other land protein source.”

Eos Capital’s Senior Associate and transaction lead, Etuna Hango added that “Reducing the country’s reliance on food imports is integral to Namibia’s well-being. As custodians of local retirement savings, we, as Eos Capital, have a responsibility to allocate capital to assets that contribute to the nation’s welfare. We are proud to play a role in steering Namibia towards self-sustainability. This investment in the agriculture sector is one of many steps we will be making to ensure a resilient and self-sufficient future for our nation.”

Paulo Shipoke, Oyeno Poultry founder stated that, “Agriculture remains the heartbeat of the Namibia economy and is the largest creator of employment opportunities for its people, through sustainable operation practices and continued growth, the industry will remain in a position to foster economic development and growth for the people of The Republic of Namibia.”

On Friday, the 21st of June 2024, Dr Albertina Shilongo, Chief Veterinary Officer at the Directorate of Veterinary Services (”DVS”), and Mr Mesag Mulunga, the Director of Planning and Business Development at the Ministry of Agriculture, Water, and Land Reform (“MAWLR”) officially inaugurated the new poultry farm on behalf of Honourable Calle Schlettwein, Minister of Agriculture, Water, and Land Reform.

From left to right: Louis Kleynhas (Chairperson – Poultry Producers’ Association), Mesag Mulunga (Director of Planning and Business Development – MAWLR), Dr Albertina Shilongo (Chief Veterinary Officer – DVS, MAWLR), Immanuel Kadhila, (Managing Director – Eos Capital), Paulo Shipoke (Co-founder – Kadila Poultry), Salathiel Nembungu (General Manager – Kadila Poultry)

The project, which has already generated over 50 construction jobs, is anticipated to create over 350 jobs once it becomes fully operational. Currently, the construction is in its final stages, with the first broilers expected to be placed in late August 2024. This significant development marks a major milestone for Namibia’s agricultural sector, promising substantial economic and employment benefits.

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