The project

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.

By Grace is a family owned business that has been in operations for over 15 years.  The business operates out of Nairobi and has storage facilities in Kahawa West and in Utawala.

Starting from a humble background, selling molasses, By Grace has grown steadily over the years, and today commands a leading position in the sourcing and trading of raw materials that go into feed milling. 

The company employs 60 staff spread over its three main divisions which are (a) the manufacturing of high quality feeds, (b) supply of raw materials to feeds manufacturing companies and (c) the farming division (mainly poultry)  – which has been set up to leverage value chain integration. 

Managed and owned by the husband/wife team of Patrick and Frachiah Mailang, the company has its own fleet of trucks to ensure efficient transport of its products throughout East Africa, and has invested in ultra-modern machinery that efficiently automate production, quality control mechanisms, weighing and packaging. The yearly turnover is around EUR 4 Mio.

With this loan we help By Grace to grow and achieve its mission to provide high quality feed to farmers and millers around Kenya.