Devenish acquires 42pc stake in Sidai Africa - KBC

Irish agri-tech giant Devenish has expanded its operations to Kenya following its acquisition of a 42 percent stake in Kenyan agro firm Sidai Africa, which is a major player in the last-mile delivery of crop and livestock supplies.

Devenish will inject 225 million shillings in the agro firm. Sidai Africa Managing Director Ken Wainaina says the capital injection will help expand its reach and product portfolio.

Sidai Africa was established eight years ago with the backing of the Bill and Melinda Gates Foundation and Farm Africa, to help improve sustainable agriculture.

The company has expanded its operations through the adoption of technology and innovation running 11 branded stores, 87 franchisees and 1,500 stockiest.

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The Kenyan startup has attracted the eye of Ireland based Global agri-tech firm Devenish Nutrition which has bought a 42 percent stake worth 225 million in the animal feeds maker and farm product supplier.

Wainaina says by improving access to livestock products and services, the capital injection will enable Sidai to further expand its distribution network, launch new products and reach even more farmers across Kenya.

The ministry of agriculture reports that up to a quarter of livestock die every year in Kenya due to preventable diseases.

Devenish said its investment “fits in with its long-term growth strategy in emerging markets–ups– The Belfast-headquartered group employs over 5000 people with a presence in more than 40 countries in the Middle East, Sub Saharan Africa, Turkey, Mexico and Denmark.

 

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