funding gap emerging markets
Kenya

Classic Foods Ltd.

  • FinancialAccessOld
  • Local partner investment
  • + 132 other investors
  • With EUR 75,000 Stella will be able to strengthen the value chain and contribute to the income to thousands of farmers.

    €75,000
    Amount
    6.00%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€75,000
    Interest6.00%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 20 hours on 15 March 2017.
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      Project will be fully funded

      Summary

      Note: this type of loan involves risks. Factoring is still in its infancy in Africa and the track record of such products is therefore limited.

      Credit risk is hedged through a combination of pledged invoices, credit guarantees and a 20% deposit, which the client builds up with Financial Access over a period of twelve months.


      In 2009, a Kenyan accountant called Wachira Kariuki quit his career to start a new business with his spouse, Stella Kimemia.  They put up their family home as collateral for credit, leased an old facility and started processing milk, and later on out-rightly purchased the facility, located 50km from the capital Nairobi and modernized it.

      Today, Classic Foods, has grown into a processor of a wide range of products, including pasteurized milk, yogurt, a UHT line, maize flour milling & animal feed making, mango pulping and juice making. Their products are sold in a wide range of supermarkets in the greater Nairobi area. Over the next months, a new plant in Isiolo will be coming on stream that is being realized with assistance of (amongst others) USAID.  This facility will process camel and goat milk in the largely pastoralist and semi-arid North Eastern parts of the country.  The community in this region has been losing over 50% of the milk produced before it gets to the market due to post-handling issues.

      Classic Foods employs about 50 members of staff with 15 of them working in the field directly with farmers under its Enhance Business Solutions programme.  They work with dairy- , maize- and fruit  farmers throughout the country.  By strengthening the various value chains, Classic contributes to the income to thousands of farmers.

      Company nameClassic Foods Ltd.
      CEOStella Kabura Kimemia
      Founded2009-01-01
      LocationThika
      SectorAgriculture
      Turnover€0
      Employees50

      Impact

      There is currently no information available for this section. Check the Summary tab for more.

      • With this investment 5 jobs are created
      • With this investment 20 people are reached

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      We have already contributed for Classic Foods Ltd.

      Frans Wittenberg
      Derkjan van Veen
      Nettie Stougje
      Corné de Haas
      Johan Feddema
      + and another
      132
      investors