EthioChicken Secures US$5mn Investment From OP Finnfund Global Impact Fund I
EthioChicken, an Ethiopian chicken company, has secured a US$5mn investment from OP Finnfund Global Impact Fund I, Finland’s first global emerging markets impact fund for job creation, food security, and poverty elimination.
EthioChicken is dedicated to sustainable manufacturing and strives to improve its methods and operations regularly. In addition, the company helps households improve their nutrition and livelihood, particularly in rural regions, by breeding chicks that provide both eggs and poultry meat.
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OP Finnfund Global Impact Fund I seeks positive impacts on, for instance, climate change, food security, gender equality, and the availability of financing. The fund focuses on three main industries in developing countries: renewable energy, financial institutions, and sustainable agriculture.
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What You Need To About EthioChicken
Founded in 2010 by David Ellis and Trent Koutsoubos, EthioChicken took over an underperforming poultry production center in the Tigray region of northern Ethiopia, increasing production more than thirty-fold within a year. EthioChicken has since expanded into four regions of Ethiopia, with production centers nationwide.
EthioChicken is considered as one of the leading poultry producing companies in East Africa in which the operative companies are AGP Poultry PLC (AGP), Mekelle Farms Ltd (MKF) and Andasa Poultry PLC. These are sister companies and jointly operate under the brand umbrella of EthioChicken.
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