EthioChicken ETB (IFC-44471)

Countries
  • Ethiopia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 29, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
AGFLOW VENTURES
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 10, 2022

Disclosed by Bank Feb 1, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

  Established in 2010, EthioChicken (the “Group” or “AGP Poultry PLC” or “EC”) is the largest day-old-chick (“DOC”) and feed producer in Ethiopia focusing on selling these poultry input products to rural farmers. In 2019, EC sold 20M DOCs and 42K tons of poultry feed to 4 million farmers nationwide through 6,200 rural sales agents (typically youth entrepreneurs). The agents grow the DOCs for 6-8 weeks and sell the young chicken primarily to rural households who grow the chicken further to produce meat and eggs.  Currently the Group has eight (8) poultry breeder farms (Mekelle, Andasa, Gubre, Attat, Holeta, Sodo, Werabe and Emdibir), four (4) hatcheries (Adama, Mekelle, Gubre and Andasa) and two (2) feed mill plants (Gelan and Burayu) in four regions of Ethiopia (Tigray, Amhara, Southern Nations, Nationalities and Peoples' (SNNP), and Oromia regions). Half of the farms were regional poultry multiplication centres under Bureau of Agriculture in their respective regions. They represent 38% of total parent stock placement capacity. In 2018, IFC Advisory started engagement with EC on (i) farm/hatchery productivity improvement; (ii) capacity building of rural sales agents; and (iii) strategy for regional expansion resulting in significant improvements. IFC is considering a USD 10 million loan to support further growth in its business. This includes investment in two (2) breeder farms, adding 120,000 bird capacity, and a hatchery to support regional sales growth. The project also includes the financing of additional breeder parent stock to support the capacity increase. (the “Project”). EC has identified two suitable sites: Blue Nile farm in Amhara and Sodo II farm in SNNP regions.                                                  

Investment Description
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Contact Information
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No contact information provided at the time of disclosure

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The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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