Willow announces investment in Kenya’s Bio Food Products Ltd
Friday, October 26, 2012
In line with its objective of investing in small and medium-sized enterprises (SMEs) in the Middle East and Eastern Africa that generate positive social and environmental impact, Willow Impact Investors is pleased to announce an investment in Kenya.
Willow has acquired a 35% stake in Bio Food Products Ltd. – the award-winning producer of the top ranked brand in the added-value dairy products sector in East Africa.
With the free trade area of the Common Market for Eastern and Southern Africa (COMESA) community representing a population of over 400 million, Eastern Africa is a key emerging market for impact investing for Willow.
Nicolas Farah, Managing Partner at Willow Impact Investors, said: “We recognize the value of investing for positive impact in SMEs such as Bio and in growth markets such as the Kenyan dairy sector.”
Willow’s investment will support Bio’s growth strategy and expansion into new markets by capital injection in its plant and extension of its supply chain.
“We at Willow believe that Bio’s outstanding social and environmental practices can be scaled up to benefit an even broader range of suppliers and customers,” Farah added.
Willow intends for its investment to generate a broad range of impacts that will benefit farmers by increasing incomes and improving access to markets, create additional employment, support small enterprises, provide access to nutritional products for lower income populations and contribute to food and income security.
“Bio is an established, premium brand. Our commitment to producing quality products and services has earned Bio an exceptional reputation over the years and has enabled expansion in its market reach and customer base. We are delighted to have Willow Impact Investors on board.’
’This investment will serve as a catalyst in creating positive impact for suppliers and dairy farmers and in bringing new products to market to serve an even wider section of the Kenyan and East African populations,” said Binoy Zachariah – Founder and CEO, Bio Food Products Ltd.
Willow’s key objective is to build dynamic and sustainable economies by providing capital to social entrepreneurs in small and medium sized impactful businesses. The firm is pleased to witness this investment strategy gaining increasing interest from discerning and responsible investors such as Tamarisk Investments, underwriters of Willow’s investment in Bio.
“Bio meets Willow’s key impact objectives and we look forward to working with the company to generate additional impacts for all stakeholders,” concluded Farah.
