• AgDevCo lends $10M to Zambia's poultry firm Hybrid
• Funds to build region’s largest poultry abattoir
• Project targets rising demand, reduces poultry imports
  

British impact investor AgDevCo has lent $10 million to Zambia’s Hybrid Poultry to build a modern abattoir, the company said on Thursday.

The facility, to be the largest in the region, will expand processing capacity to meet growing demand at home and support exports to the Democratic Republic of Congo. Details on construction and capacity were not disclosed.

“This state-of-the-art facility represents a significant milestone. It will be the largest of its kind in the region, allowing us to supply the Zambian market, where demand is growing rapidly, and export to Lubumbashi, the second-largest city in the DRC,” said Richard Keeley, CEO of Hybrid.

Hybrid, based in Lusaka, expects the abattoir to reduce poultry imports, which averaged 42,500 tonnes a year worth $22 million between 2020 and 2024, according to Trade Map data.

AgDevCo, which manages $340 million in assets, has made 88 investments across Sub-Saharan Africa, focusing on agribusinesses that benefit smallholder farmers and rural communities.

Stéphanas Assocle